Japan PMI Manufacturing rose to 50.6 in February, up from 49.8, indicating a renewed improvement in the manufacturing sector. PMI Services, however, dropped to 45.8, down from 46.1. PMI Composite rose to 47.6, up from 47.1.
Usamah Bhatti, Economist at IHS Markit, said: “Latest flash PMI data signalled a further decline in business activity. New orders also fell solidly, led by weaker domestic demand. The latest data pointed to some brighter spots. New export orders stabilised… Employment levels expanded slightly… Input price inflation continued at a similar pace to January. Businesses were optimistic that business conditions would improve in the coming 12 months.”
