Jibun Bank Flash Japan Manufacturing and Services PMI for March 2022
manufacturing 53.2
- expected 50.9, prior 52.7
services 48.7
- expected 43.4, prior 44.2
Composite 49.3
- prior 45.8
Commentary from the report:
- “Flash PMI data indicated that activity at Japanese private sector businesses fell for the third month running during March. The decline in output eased from the previous survey period however, and was only marginal as companies noted that COVID-19 cases had continued to reduce, allowing the lifting of the quasi-state of emergency across Japan. By sector, manufacturers noted a renewed rise in output in at the end of the first quarter, while service providers indicated a softer deterioration in business activity.
- “Firms across the Japanese private sector reported a further intensification of price pressures. Input prices rose at the fastest pace since August 2008 with businesses attributing the rise to surging raw material prices, notably energy, oil and semiconductors amid deteriorating supplier performance.
- “Despite falling infection rates caused by the Omicron variant, Japanese private sector companies reported softer optimism regarding the year-ahead outlook for activity in March. Positive sentiment was the weakest for 14 months amid concerns regarding the economic impact of the Russia-Ukraine conflict.”
Once again, price pressures to the fore:
