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    22.03.2016 10:52 Preliminary Markit/Nikkei manufacturing purchasing managers' index for Japan declines to 50.2 in February

    The preliminary Markit/Nikkei manufacturing Purchasing Managers' Index (PMI) for Japan declined to 49.1 in March from 50.1 in February, missing expectations for a rise to 50.6. it was the lowest level since April 2015.

     

    A reading below 50 indicates contraction of activity, a reading above 50 indicates expansion.

     

    The index was driven by a drop in new orders and output.

     

    "Operating conditions at Japanese manufacturers deteriorated in March. Production and new orders both contracted, with output decreasing for the first time in nearly a year. This suggests industrial production will continue to fall," economist at Markit, Amy Brownbill, said.


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