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Financial News: Japan Manufacturing Sector Swings To Expansion - Jibun

Japan Manufacturing Sector Swings To Expansion - Jibun

06/02/2024 - 20:37:00 (RTTNews)

(RTTNews) - The manufacturing sector in Japan bounced back up into expansion territory in May, the latest survey from Jibun Bank revealed on Monday with a manufacturing PMI score of 50.4.

That's up from 49.6 in April and it moves above the boom-or-bust line of 50 that separates expansion from contraction.

Output was broadly stable in May, with the respective sub-index close to the no-change mark and rising to a 12-month high. Some firms indicated that a lack of incoming new business and shortages of key components weighed on production.

However, this was partially offset by tentative improvements in demand for specific products at other companies. The level of new orders placed with Japanese manufacturers was also broadly stable in May, with some companies noting a recovery in new business intakes at their units.

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