{"id":45644,"date":"2023-05-23T05:20:00","date_gmt":"2023-05-23T04:20:00","guid":{"rendered":"https:\/\/youtrading.com\/en\/?p=45644"},"modified":"2023-05-24T13:17:31","modified_gmt":"2023-05-24T12:17:31","slug":"morning-brief-australian-and-japan-pmi-data","status":"publish","type":"post","link":"https:\/\/youtrading.com\/en\/morning-brief-australian-and-japan-pmi-data\/","title":{"rendered":"Morning Brief &#8211; Australian and Japan PMI data"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"45644\" class=\"elementor elementor-45644\" data-elementor-post-type=\"post\">\n\t\t\t\t\t\t<div class=\"elementor-inner\">\n\t\t\t\t<div class=\"elementor-section-wrap\">\n\t\t\t\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-09aadce elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"09aadce\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t\t\t<div class=\"elementor-row\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-3a2d1a3\" data-id=\"3a2d1a3\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-column-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-ca4193f elementor-widget elementor-widget-text-editor\" data-id=\"ca4193f\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-text-editor elementor-clearfix\">\n\t\t\t\t<p>Markets digested the news that US President Biden and House Speaker McCarthy once again held talks. Comments from Biden and McCarthy at the meeting\u2019s conclusions were optimistic, saying progress was made and default is \u2018off the table\u2019 but there was very little of substance and no sign of agreement.<\/p><p>Staff level talks recommenced a little after the leaders\u2019 meeting concluded. McCarthy held a news conference after saying \u201che feels discussions were productive\u201d and \u201ctone of discussion was improved from previous times.\u201d Staff level talks will continue.<\/p><p>We also had the Judo Bank Australia Manufacturing PMI came at 48 in May 2023 unchanged from the previous month, preliminary readings showed.<\/p><p>It pointed to the third consecutive month of deterioration in business conditions in the manufacturing sector led by a persistent reduction in new orders and outputs.<\/p><p>Meantime, input prices remained well below that seen in 2022. Despite the reduction in output levels, firms continued to hire but at a slower pace. Business confidence in the manufacturing sector improved although the level of confidence remained below the long-run average due to market uncertainty.<\/p><p>The Japan Manufacturing PMI increased to an eight-month high of 50.8 in May 2023 from a final 49.5 in the previous month, flash data showed.<\/p><p>It was the first expansion in the factory activity since last October, as the post-COVID recovery gained traction, with both new orders and output returning to expansion territory for the first time since last June, and the fastest pace in 13 months. Meanwhile, suppliers&#8217; delivery times shortened for the first time since January 2020, albeit only fractionally.<\/p><p>Employment growth eased, with backlogs of work increasing at a slower pace. On the pricing front, input cost inflation slowed to the softest since February 2021, while output cost inflation eased to a four-month low.<\/p><p>Finally, business sentiment remained positive, despite easing from April, amid a broad improvement from reduced COVID-related disruptions and growing bets that inflationary pressures would peak soon and ease throughout the remainder of the year.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>Markets digested the news that US President Biden and House Speaker McCarthy once again held talks. Comments from Biden and McCarthy at the meeting\u2019s conclusions were optimistic, saying progress was made and default is \u2018off the table\u2019 but there was very little of substance and no sign of agreement. Staff level talks recommenced a little [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":30917,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[2],"tags":[101,164,318],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v17.6 (Yoast SEO v20.11) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Morning Brief - Australian and Japan PMI data - Youtrading UK<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/youtrading.com\/en\/morning-brief-australian-and-japan-pmi-data\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Morning Brief - Australian and Japan PMI data Morning Brief - Australian and Japan PMI data\" \/>\n<meta property=\"og:description\" content=\"Markets digested the news that US President Biden and House Speaker McCarthy once again held talks. Comments from Biden and McCarthy at the meeting\u2019s conclusions were optimistic, saying progress was made and default is \u2018off the table\u2019 but there was very little of substance and no sign of agreement.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/youtrading.com\/en\/morning-brief-australian-and-japan-pmi-data\/\" \/>\n<meta property=\"og:site_name\" content=\"Youtrading UK\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/YouTradingEnglish\/\" \/>\n<meta property=\"article:published_time\" content=\"2023-05-23T04:20:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-05-24T12:17:31+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/youtrading.com\/en\/wp-content\/uploads\/2022\/06\/GettyImages-1403488427.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"509\" \/>\n\t<meta property=\"og:image:height\" content=\"307\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Nathan Batchelor\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Morning Brief - Australian and Japan PMI data Morning Brief - Australian and Japan PMI data\" \/>\n<meta name=\"twitter:description\" content=\"Markets digested the news that US President Biden and House Speaker McCarthy once again held talks. 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