Japan Manufacturing PMI Inches Higher In April - Jibun
(RTTNews) - The manufacturing sector in Japan continued to contract in April, albeit at a slower rate, the latest survey from Jibun Bank revealed on Wednesday with a manufacturing PMI score of 48.5.
That's up from 48.4 in March, although it remains beneath the boom-or-bust line of 50 that separates expansion from contraction.
Helping to lift the index slightly was the softest drop in factory production for four months. However, overall new orders declined at a solid pace that was the fastest since February 2024, with the downturn in new export business also gathering pace. A marginal rise in staffing levels meanwhile contributed to a further reduction in backlogs of work.
The survey also showed that the services PMI improved to 52.2 from 50.0 and the composite PMI climbed to 51.1 from 48.9 in March.
Supporting the fresh rise in business activity was a further improvement in customer demand, with overall sales increasing at the strongest rate in three months. As a result, companies hired additional staff at the quickest pace since January, while backlogs continued to expand modestly.
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