Japan - Jibun Bank/Markit Manufacturing PMI (final) for May: 38.4 (prior 41.9)

Author: Eamonn Sheridan | Category: News

The preliminary Jibun Bank/Markit Manufacturing PMI for Mayis here: link 

Final result now. South Korean Manufacturing PMI hit its lowest since January of 2009 at 41.3

Japan - lowest PMI since Marth 2009. Commenting, Joe Hayes, Economist at IHS Markit:
  • "While Japan has lifted the state of emergency across most parts of the country, making way for a restart of its economy, latest survey data indicated that the manufacturing sector downturn is playing catch-up. 
  • "May survey data revealed that production volumes are falling at an even faster rate than in April. Anecdotal evidence tells us that this is the result of collapsing demand, which according to the PMI, fell at the sharpest rate since the global financial crisis. Exports also fell drastically, highlighting the extreme challenges that global manufacturers will be faced with in the coming months as countries emerge from lockdown. 
  • "While easing lockdown measures will be positive for the economic environment, it is clear that dislocations will remain, which will continue to hinder supply chains, impact global trade and make operating conditions challenging for manufacturers. 
  • "Until we see a sustained improvement in demand, manufacturing conditions are likely to remain fragile."

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