Japan PMI Manufacturing rose slightly to 52.0 in march, up from 51.4, above expectation of 51.3. PMI services improved slightly to 46.5, up from 46.3. PMI Composite edged up to 48.3, from 48.2.
Usamah Bhatti, Economist at IHS Markit, said: “Activity at Japanese private sector businesses remained subdued… one positive note was private sector firms in Japan recording the strongest increase in employment levels since January 2020… private sector companies were optimistic that business conditions would improve in the year ahead… Positive sentiment stemmed from the expectation that the lifting of state of emergency measures and broader restrictions as vaccinations roll out would trigger a recovery in demand in both domestic and external markets.”
