Japan PMI Manufacturing was finalized at 48.9 in January, unchanged from January’s 48.9. S&P Global also noted that reductions in output and new orders were slowest since last October. Supply chain disruptions were least widespread for nearly two years. Prices charged inflation cooled to its lowest for 16 months.
Tim Moore, Economics Director at S&P Global Market Intelligence, said: “Subdued global economic conditions continued to hold back customer demand across the Japanese manufacturing sector in January, but there were a number of positive signals from the latest PMI survey. The rates of decline for output and new orders were the smallest since last October, whilst marginal employment growth was maintained as manufacturers sought to boost capacity in line with long-term investment plans.”