Japan S&P Global / Jibun Bank Manufacturing PMI for February 2024 has come in at 47.2
- flash 47.2
- prior 48.0
- ninth straight month of contraction
- the fastest drop since August 2020
From the report:
- "Depressed demand in domestic and international markets continued to weigh on sector performance"
- production and new orders, the two main subindexes of the PMI, declined at the fastest pace in a year
- export sales have remained in contraction for two years
- employment shrank at the steepest pace since January 2021
- shipping delays due to disruption in the Red Sea and the impact of Japan's Noto earthquake on New Year's Day
- price pressures remained strong on higher raw material, energy, labour, oil and transport costs. But the rate of input cost inflation eased to the lowest in seven months
