Japanese manufacturing activity expanded at a faster pace in April than the previous month as output and domestic demand picked up, in a sign the economy is recovering from an expected rough patch in the first quarter.However, a private survey also showed export orders fell for the first time in more than a year and a half as a gradual appreciation in the yen starts to erode Japan’s export competitiveness. The flash Markit/Nikkei Japan Manufacturing Purchasing Managers Index (PMI) rose to a seasonally adjusted 53.3 in April from a final 53.1 in the previous month. The index remained above the 50 threshold that ... (full story)