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Financial News: Japan Manufacturing PMI Sinks Into Contraction - Nikkei

Japan Manufacturing PMI Sinks Into Contraction - Nikkei

05/22/2019 - 20:40:00 (RTTNews)

(RTTNews) - The manufacturing sector in Japan fell into contraction in May, the latest survey from Nikkei revealed on Thursday in its preliminary report - posting a manufacturing PMI score of 49.6.

That's down from 50.2 in April and it falls beneath the boom-or-bust line if 50 that separates expansion from contraction.

Individually, output and new orders fell for the fifth straight month, while the business outlook reflected pessimism for the first time more than six years.

New export orders, backlogs, stocks and quantities of purchases also were in contraction.

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