Japan Nikkei Manufacturing PMI Final

Info

History

Chart

Impact:

Medium

Source: Markit Economics

Latest Release:

Date:

Surprise:

-0.2

JPY

Actual:

49.3

Forecast: 49.5

Previous/Revision:

49.8

Period: Jun

What Does It Measure?

The Japan Nikkei Manufacturing PMI Final measures the economic health of the manufacturing sector in Japan, providing insights into production, new orders, and employment within the industry. It is derived from surveys of purchasing managers and assesses critical factors like output, inventory levels, and supplier delivery times, with a PMI reading above 50 indicating expansion and below 50 indicating contraction, serving as a national indicator.

Frequency

The report is released monthly, typically on the first business day of the month, presenting the final figure for the previous month and subject to revisions.

Why Do Traders Care?

Traders monitor the Nikkei Manufacturing PMI Final closely as it serves as a leading indicator of the manufacturing sector's health, which directly impacts overall economic performance. Higher-than-expected readings can boost investor confidence, influencing bullish trends in the Japanese yen (JPY) and Japanese equities, while weaker readings can lead to bearish market conditions.

What Is It Derived From?

The PMI is calculated from a survey of approximately 300 purchasing managers within the manufacturing industry, assessing their views on prevailing business conditions. With responses weighted to reflect the size of participating firms, the PMI uses a diffusion index methodology where a reading above 50 reflects growth and one below 50 indicates decline.

Description

The Japan Nikkei Manufacturing PMI Final is a key economic indicator that reflects the operational conditions of the manufacturing sector. It contrasts preliminary data with final data; preliminary figures are based on early responses and are subject to change, while final data provides a more reliable snapshot but is available later, with markets often reacting more strongly to preliminary results. This indicator uses a month-over-month (MoM) comparison to highlight short-term changes, though it does not encompass other reporting methods to clarify current trends versus historical data.

Additional Notes

The Nikkei Manufacturing PMI Final is a leading indicator that frequently correlates with broader economic trends, providing insights into potential shifts in GDP growth. By comparing it with other PMI indicators globally or within different sectors, analysts gauge Japan's relative manufacturing strength and forecast potential economic shifts.

Legend

High Potential Impact
This event has a strong potential to move markets significantly. If the 'Actual' value differs enough from the forecast or if the 'Previous' value is significantly revised, it signals new information that markets may rapidly adjust to.

Medium Potential Impact
This event may cause moderate market movement, especially if the 'Actual' deviates from the forecast or there's a notable revision to the 'Previous' value.

Low Potential Impact
This event is unlikely to affect market pricing unless there's an unexpected surprise or a major revision to prior data.

Surprise - Currency May Strengthen
Actual deviated from Forecast on a medium or high impact event and historically could strengthen the currency.

Surprise - Currency May Weaken
Actual deviated from Forcast on a medium or high impact event and historically could weaken the currency.

Big Surprise - Currency More Likely To Strengthen
'Actual' deviated from 'Forecast' more than 75% of historical deviations on a medium or high impact event and may likely strengthen the currency.

Big Surprise - Currency More Likely To Weaken
'Actual' deviated from 'Forecast' more than 75% of historical deviations on a medium or high impact event and may likely weaken the currency

Green Number	Better than forecast for the currency (or previous revise better)
Red Number	Worse than forecast for the currency (or previous revise better)
Hawkish	Supports higher interest rates to fight inflation, strengthening the currency but weighing on stocks.
Dovish	Favors lower rates to boost growth, weakening the currency but lifting stocks.

Date	Actual	Forecast	Previous	Surprise
Jul 01, 2019	49.3	49.5	49.8	-0.2
Jun 03, 2019	49.8	49.6	50.2	0.2
May 07, 2019	50.2	49.5	49.2	0.7
Apr 01, 2019	49.2	48.9	48.9	0.3
Mar 01, 2019	48.9	48.5	50.3	0.4
Feb 01, 2019	50.3	50	52.6	0.3
Jan 04, 2019	52.6	52.4	52.2	0.2
Dec 03, 2018	52.2	51.8	52.9	0.4
Nov 01, 2018	52.9	53.1	52.5	-0.2
Oct 01, 2018	52.5	52.9	52.5	-0.4
Sep 03, 2018	52.5	52.5	52.3
Aug 01, 2018	52.3	51.6	53	0.7
Jul 02, 2018	53	53.1	52.8	-0.1
Jun 01, 2018	52.8	52.5	53.8	0.3
May 01, 2018	53.8	53.3	53.1	0.5
Apr 02, 2018	53.1	53.2	54.1	-0.1
Mar 01, 2018	54.1	54	54.8	0.1
Feb 01, 2018	54.8	54.4	54	0.4
Jan 04, 2018	54	54.2	53.6	-0.2
Dec 01, 2017	53.6	53.8	53.8	-0.2
Nov 01, 2017	52.8	52.5	52.9	0.3
Oct 02, 2017	52.9	52.6	52.2	0.3
Sep 01, 2017	52.2	52.8	52.1	-0.6
Aug 01, 2017	52.1	52.2	52.4	-0.1
Jul 03, 2017	52.4	52	53.1	0.4
Jun 01, 2017	53.1	52	52.7	1.1
May 01, 2017	52.7	52.8	52.4	-0.1
Apr 03, 2017	52.4	52.6	53.3	-0.2
Mar 01, 2017	53.3	53.5	52.7	-0.2
Feb 01, 2017	52.7	52.8	52.4	-0.1
Jan 04, 2017	52.4	54.2	51.3	-1.8
Dec 01, 2016	51.3	51.1	51.4	0.2
Nov 01, 2016	51.4	51.7	50.4	-0.3
Oct 03, 2016	50.4	50.3	49.5	0.1
Sep 01, 2016	49.5	49.6	49.3	-0.1
Aug 01, 2016	49.3	49	48.1	0.3
Jul 01, 2016	48.1	47.8	47.7	0.3
Jun 01, 2016	47.7	47.6	47.6	0.1
May 02, 2016	48.2	48	48	0.2
Apr 01, 2016	49.1	49.1	50.1
Mar 01, 2016	50.1	50.2	50.2	-0.1
Feb 01, 2016	52.3	52.4	52.6	-0.1
Jan 04, 2016	52.6	52.5	52.6	0.1
Dec 01, 2015	52.6	52.8	52.4	-0.2
Nov 02, 2015	52.4	52.5	52.5	-0.1
Oct 01, 2015	51	50.9	51.7	0.1
Sep 01, 2015	51.7	51.9	51.2	-0.2
Aug 03, 2015	51.2	51.4	50.1	-0.2
Jul 01, 2015	50.1	49.9	50.9	0.2