Japan Manufacturing PMI Falls To 48.7 - Jibun
(RTTNews) - The manufacturing sector in Japan continued to contract in January, and at a faster pace, the latest survey from Jibun Bank revealed on Monday with a PMI score of 48.7
That's down from 49.6 in December, and it moves further beneath the boom-or-bust line of 50 that separates expansion from contraction.
Output fell for the fifth consecutive month at the start of the year, with the respective seasonally adjusted index indicative of a moderate decline in production levels. Moreover, the contraction was the steepest for ten months as firms often indicated that a lack of new orders had led to output cuts.
The level of new orders placed with Japanese manufacturers also fell in January, and at a moderate pace that was the most pronounced for six months. Where sales fell, firms mentioned sustained weakness in client confidence, particularly in the semiconductor and automotive segments.
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