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- Japan’s manufacturing activity continues to contract in September, albeit at slower pace - Jibun Bank
Japan’s manufacturing activity continues to contract in September, albeit at slower pace - Jibun Bank
The Jibun Bank reported
on Thursday that its latest survey indicated that Japan’s manufacturing sector moved
another step closer to stabilization in September. The headline au Jibun Bank
Japan Manufacturing Purchasing Managers’ Index (PMI) rose to 47.7 in September from
47.2 in August. This was the highest since February, albeit still below the
neutral 50.0 value.
Economists had forecast
the index to edge up to 47.3.
According to
the report, production dropped at the weakest pace in seven months, while new
orders fell to the least marked extent since January and new export sales declined
at the slowest pace for eight months. At the same time, employment remained
relatively stable across the manufacturing sector, with this index only
fractionally below the 50.0 no-change threshold.
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