Monday 2 June 2014

Manufacturing accelerates in China, stabilises in Japan

The latest economic data from Asia's two largest economies were mostly positive.

In China, manufacturing activity accelerated in May. The National Bureau of Statistics reported on Sunday that its official manufacturing PMI rose to 50.8 last month from 50.4 in March.

In Japan, a report from Markit on Monday showed that manufacturing activity stabilised in May after contracting the previous month. The Markit/JMMA PMI rose to 49.9 last month from 49.4 in April.

Another report from Japan on Monday showed that capital expenditure rose 7.4 percent in the first quarter from the previous year, up from a 4.0 percent increase in the previous quarter.

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