Japan’s manufacturing economy moved closer to stabilisation in April. Output and new orders both fell, albeit at slower rates, whilst there was a further reduction in purchasing activity. Employment growth nonetheless picked up, whilst destocking continued to slow. Confidence in the future remained positive. On the price front, output price inflation accelerated to an 11-month high as firms sought to pass on higher input costs to clients. The headline au Jibun Bank Japan Manufacturing Purchasing Managers’ Index™ (PMI®) – a composite single-figure indicator of manufacturing performance – recorded 49.6 in April. ... (full story)