TOKYO (dpa-AFX) - The manufacturing sector in Japan continued to expand in January, and at a faster pace, the latest survey from Jibun Bank showed on Tuesday with a manufacturing PMI score of 55.4.
That's up from 54.3 in December, and it moves further above the boom-or-bust line of 50 that separates expansion from contraction.
Latest data pointed to a sharp expansion in output. Growth was recorded for the fourth consecutive month and was the quickest since February 2014. Higher production levels were often associated with rising new orders.
Similarly, new orders among Japanese manufacturers rose further. The pace of the expansion was solid and the fastest recorded for nine months. Respondents linked higher sales to stronger client confidence in both domestic and international markets. As such, foreign demand for Japanese manufactured foods continued to expand at the start of the year, with the rate of growth quickening from that seen in December, as firms cited stronger demand in key markets for key sectors such as automotives and semiconductors.
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