02.04.201800:38:00UTC+00Japan Manufacturing PMI Cools in March

Japanese manufacturing activity grew at a marginally softer pace in March, revised data from a survey recently showed, as the rise in new orders and output cooled slightly.

The Final Markit/Nikkei Japan Manufacturing Purchasing Managers Index (PMI) declined to 53.1 in March on a seasonally adjusted basis, slightly below a preliminary 53.2 and below a final 54.1 in February.

The headline reading dropped for the second straight month, but remains comfortably above the 50 threshold that separates contraction from expansion for the 19th executive month.

The final index for new orders was 53.1, below the preliminary reading of 53.2 and down from 54.7 in the previous month.

The new export orders index was unchanged from the advance estimate at 52.5, but down compared with a final 54.1 in February.

Japan's economy has expanded for eight consecutive quarters, the longest uninterrupted streak since a 12-quarter run of growth during the mid-to-late 1980s boom.

Some economists have cautioned that the pace of growth could moderate this year because consumer spending may drop slightly, even though strong exports performance of Japan Inc. continues to support the world's third-largest economy.