TOKYO (Commodity Online): Japan's Manufacturing activity rose in January, as per data reported by Markit. January manufacturing PMI rose to 50.7 from 50.2 in December. This is the highest in almost 4 months since August 2011 reading of 51.9.
A reading over 50 indicates economic expansion and a reading below 50 indicates economic contraction. As such, the current data is encouraging for market bulls. Last year has been a disappointment for the Japanese, especially after the March earthquake resulted in supply chain disruptions.
Meanwhile, industrial output remained form in the last month of 2011. As per the data released by the Ministry of Economy, Trade and Industry (METI), December industrial production rose by 4% after a 2.7% drop in November.
