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Financial News: Japan Manufacturing PMI Improves To 48.2 In March

Japan Manufacturing PMI Improves To 48.2 In March - Jibun

03/20/2024 - 20:40:00 (RTTNews)

(RTTNews) - The manufacturing sector in Japan continued to contract in March, albeit at a slower pace, the latest survey from Jibun Bank revealed on Thursday with a manufacturing PMI score of 48.2.

That's up from 47.2 in February, although it remains beneath the boom-or-bust line of 50 that separates expansion from contraction.

Both output and new orders were scaled back at slower rates in the latest survey period, with the latter reducing at the softest rate since last October. Sustained declines in new orders and a renewed rise in employment levels meant for spare capacity in the sector.

The survey also showed that the services PMI improved to 54.9 in March from 52.9 in February.

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