Flash: Japanese Production activity supported by weak yen export recovery - Nomura

FXstreet.com (Barcelona) - Nomura economists note that Japanese Production activity has been supported by the weak yen led export recovery

They feel that while the manufacturing PMI continued to improve in May, the decline in the new orders index also suggests that the momentum of domestic production activity may slow. However, they write, “We think underlying recovery in production activity is likely to continue, bearing in mind support for exports from the yen's rapid depreciation and the emerging benefits from public works spending as part of economic stimulus measures.”