Manufacturing activity in Japan has recovered from a two-year low, expanding for the first time in three months in May as firms put their supply chains back together after the earthquake and tsunami on 11 May.
According to the Markit/JMMA Japan Manufacturing Purchasing Managers Index (PMI), Japanese manufacturing activity rose to 51.3 in May from 45.7 in April, which is the lowest PMI the country has seen since April 2009.
"PMI survey data pointed to a welcome rebound in Japanese manufacturing activity in May, as a sharp easing in supply chain pressures enabled firms to restart production lines following the disruption caused by March’s earthquake and tsunami," said Alex Hamilton, an economist at Markit, as quoted by Reuters.
Meanwhile, Australian businesses are still feeling the flow-on effects of the disaster, with various car manufacturers still waiting on parts.
Toyota, for example, doesn’t expect to be fully back on-track until October as a result of the earthquake, with some customers waiting up to three months for their cars.
Image from TheAustralian.com.au
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