Japan PMI Manufacturing was finalized at 53.5 in April, down from March’s 54.1. Au Jibun Bank said growth in output levels was unchanged as new orders expansion slowed. Factory gate charges were in record rise amid accelerating input prices. Business optimism dipped to lowest since July 2020.
Usamah Bhatti, Economist at S&P Global, said: “Domestic demand was a key driver of growth… but the reintroduction of lockdown restrictions in China hindered international demand. These measures coupled with the fallout from war in Ukraine continued to disrupt supply chains across the sector.
“Delivery delays and price rises remained a dampener… Sharply rising cost burdens pushed Japanese manufacturers to raise selling prices to the greatest extent in the survey history.
“Though still optimistic, Japanese goods producers were increasingly wary of the continued impact of price and supply pressures, and also the impact of the war and extended lockdowns in China. As a result, confidence dipped to the weakest since July 2020.”
