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6/1/2021, 2:34 AM (Source: TeleTrader)
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Japan's factory activity further expands in May

The Japanese Jibun Bank Flash Manufacturing PMI Index surprised expectations in May, improving by 0.5 points to land at 53, compared to last month's results, IHS Markit's according to a report released on Tuesday local time.

The headline figure landing above the neutral 50 marks an upturn in Japan's manufacturing activity despite the pace of growth softening from the previous survey period.

"Japanese goods producers remained optimistic in the year ahead outlook for activity. Firms were hopeful that the pandemic would subside and induce a broad recovery in demand across the sector. IHS Markit estimates that industrial production will rise by 8.8% in 2021," said IHS Markit's Economist Usamah Bhatti.

Baha Breaking the News (BBN) / NL