Japan Manufacturing Sector Continues To Contract - Jibun
(RTTNews) - The manufacturing sector in Japan continued to contract in February, and at a faster pace, the latest survey from Jibun Bank revealed on Friday with a manufacturing PMI score of 47.2.
That's down from 48.0 in January and it moves further beneath the boom-or-bust line of 50 that separates expansion from contraction.
Output and new orders saw steeper contractions during February. Both have now fallen in each of the last nine months, with the latest declines the strongest reported for a year. Panelists often commented that sales demand was weak at home and overseas, while machinery shutdowns also hindered production.
As such, the latest decrease in export sales extended the current sequence to two years and was the sharpest in 11 months. Mainland China was notably reported to be a key source of reduced international sales, although there was also weakness reported from the US and Europe.
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