Japan PMI Manufacturing dropped from 54.1 to 53.4 in April, above expectation of 53.3. PMI Services rose from 49.4 to 50.5, signalling the first expansion since last December. PMI Composite rose from 50.3 to 50.9.
Usamah Bhatti, Economist at S&P Global, said: “The latest Flash PMI data showed that Japanese private sector activity improved at a sharper rate at the start of the second quarter of 2022. Services companies recorded an expansion in activity for the first time since last December, while manufacturers saw output levels rise for the second successive month.
“April data signalled the sharpest expansion in four months, though the pace of growth was only marginal. Moreover, growth in incoming business in the private sector stagnated amid increased headwinds.
