Japan Manufacturing PMI Plunges, Signaling Global Economic Concerns
Japan Manufacturing PMI in Freefall: Deepest Contraction in Two Years
Japan S&P Global / Jibun Bank Manufacturing PMI for February 2024 has come in at 47.2, the fastest drop since August 2020. 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.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.