Japan Manufacturing PMI Inches Higher In January - Jibun
(RTTNews) - The manufacturing sector in Japan continued to contract in January, albeit at a marginally slower rate, the latest survey from Jibun Bank revealed on Thursday with a manufacturing PMI score of 48.0.
That's up from 47.9 in December, although it remains beneath the boom-or-bust line of 50 that separates expansion from contraction.
Total new work decreased for the eighth month running in the latest survey period, and at a sharp rate overall. Weak domestic and global economic conditions were cited as key headwinds to new order intakes. Lower export sales, especially in Mainland China and the wider Asia-Pacific region, also held back total new orders at the start of the year.
January data pointed to a sustained fall in output levels that was nonetheless the softest recorded for three months. The latest reduction was often attributed to subdued economic conditions and weak new order inflows.
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