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Financial News: Japan Manufacturing PMI Fades To 53.4 In April

Japan Manufacturing PMI Fades To 53.4 In April - Jibun

04/21/2022 - 20:37:00 (RTTNews)

(RTTNews) - The manufacturing sector in Japan continued to expand in April, albeit at a slower rate, the latest survey from Jibun Bank showed on Friday with a manufacturing PMI score of 53.4.

That's down from 54.1 in March, although it remains above the boom-or-bust line of 50 that separates expansion from contraction.

Manufacturers registered an expansion in output levels for the sixth time in seven months, while new order growth continued for a seventh month running, albeit at a softer rate. Concurrently, the rate of job creation dipped to a nine-month low amid a softer rise in backlogs. Sustained shortages of inputs contributed to a further rapid rise in costs however, while business confidence softened to the weakest since June 2020.

Also, the services PMI improved to 50.5 in April from 49.4 in March, while the composite rose to 50.9 from 49.3.

Overall new business fell for the third time in four months amid weaker domestic demand, while new export orders rose for the first time in four months and at the sharpest pace since October 2019. Service providers commented on a fresh acceleration in input prices, with the latest rise the steepest since August 2008. However, the rate of charge inflation broadly stagnated as firms looked to absorb rising cost pressures to support demand.

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