Japan Jibun Bank PMI Manufacturing rose to 49.5 in December, up from 48.8. PMI Services dropped to 47.2, down from 47.8. PMI Composite dropped to 48.0, down from 48.1.
Usamah Bhatti, Economist at IHS Markit, said: “Despite the short-term disruption caused by a resurgence in coronavirus disease 2019 (COVID-19) cases, Japanese private sector businesses were optimistic that business conditions would improve in the year-ahead. Positive sentiment stemmed from the expectation that there would be an end to the pandemic which would fuel both domestic and international demand. Nevertheless, uncertainty surrounding the timing and pace of the economic recovery resulted in a softening of expectations.”
