Japan manufacturing expands as orders rise fastest since 2018, PMI shows

TOKYO, Aug 21 : Japan's manufacturing sector expanded in August as new orders rose at their fastest pace since January 2018, a business survey showed on Friday.The S&P Global Flash Japan Manufacturing Purchasing Managers' Index (PMI) rose to 55.1 in August from 54.5 in July, a preliminary estimate by S&P Global showed. The 50-mark separates growth from contraction."While we saw growth momentum pick up across both manufacturing and service sectors, factories continued to lead growth, registering sharp increases in both production and new orders," said Annabel Fiddes, economics associate director at S&P Global Market Intelligence.Japan's economy slowed in the second ​quarter, gross domestic product data released on Monday showed, though investors brushed aside the soft reading as reflecting