Japan Manufacturing Sector Contracts Unexpectedly In March
Japan's manufacturing activity deteriorated for the first time in eleven months in March, the latest flash survey from Markit Economics showed Tuesday.
The Markit/ Nikkei Manufacturing Purchasing Managers' Index, or PMI, fell to 49.1 in March from 50.1 in the previous month. Economists had expected the index to rise to 50.5.
A score below 50 indicates contraction, while any score above 50 suggests expansion in the sector. The index remained below 50 neutral mark for the first time since April 2015.
Manufacturing output declined slightly in March and new orders fell sharply over the month.
On the price front, both input and output prices decreased at a faster pace during March.
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