Markit, a leading diversified global financial information services company, today announced the forthcoming launch of the Markit/JMMA Flash Japan Manufacturing PMI™. This indicator will be published on a monthly basis approximately one week before final PMI data are released worldwide, making the Markit Japan PMI one of the earliest available indicators of manufacturing sector business conditions in Japan.
Markit has been collecting PMI data from Japanese producers since October 2001, and its survey panel comprises over 400 manufacturers. The methodology used by Markit for its PMI surveys is identical across its global PMI series conducted in more than 30 countries. The Markit Flash Japan Manufacturing PMI is an early view based on 85%–90% of total PMI survey responses each month, and will be followed by the release of final Japan Manufacturing PMI data by Markit on the first working day of every month.
The Markit Flash Japan Manufacturing PMI will be released alongside existing Markit Purchasing Managers’ Index™ (Markit PMI) surveys for the US, Eurozone and China, thereby providing the first global snapshot of manufacturing operating conditions each month.
Markit PMI surveys are among the most closely watched business surveys in the world, favoured by central banks, financial markets and business decision makers for their ability to provide up-to-date, accurate and often unique monthly indicators of economic trends.
Each Markit country PMI survey for the manufacturing sector is based on monthly questionnaire responses from panels of senior purchasing executives. These survey panels are carefully recruited to accurately represent the true structure of the goods-producing sector.
Luke Thompson, managing director and head of economic indices at Markit, said: “For over a decade, Markit has been producing one of the most accurate monthly indicators of the performance of the Japanese manufacturing economy through the Japan PMI. The launch of the Markit Flash Japan Manufacturing PMI means we are now also producing one of the earliest indicators. The addition of a Flash PMI for Japan will allow economists and investors to track the performance of the world’s four largest manufacturing economies on one day. Starting in Japan, followed by China, and the eurozone before ending in the US, they can now access this data a full week before the end of the month.”
The Markit Flash Japan Manufacturing PMI will be released at 1035 Tokyo time on the following dates: