Japan Manufacturing Growth Picks Up In May

(RTTNews) - Markit Economics said on Monday that the Japan Nomura / JMMA manufacturing purchasing managers' index stood at a seasonally adjusted 54.7 in May, up from 53.8 in the previous month. A reading above 50 indicates expansion, while one below suggests contraction. Manufacturing output rose again in May, with respondents attributing the rise in output to a greater inflow of new orders.

New order levels were up for the eleventh successive month, while the pace of growth quickened to the most marked in seven months. Employment levels in the manufacturing sector rose in May and at the fastest rate since April 2008. Panelists cited greater inflows of new business for the rise in staffing levels.