Japan’s PMI Manufacturing was finalized at 48.2 in March, up from February’s 47.2, highest in four months.
Usamah Bhatti of S&P Global Market Intelligence noted that while the sector’s performance remained “downbeat,” there were emerging signs that the “worst of the weakness had passed”. This observation is based on softer reductions observed in both output and new orders inflows.
However, it’s important to highlight that the average PMI reading for Q1 stood at 47.8, indicating the weakest quarterly performance since Q3 2020, when it was 46.7.
Inflationary pressures “remained marked” Although the rate of input price inflation has moderated to its weakest in over three years, the challenge of high costs persists. In response to these pressures, selling price inflation has intensified to a three-month high, reflecting manufacturers’ efforts to safeguard profit margins by transferring higher expenses onto their customers.
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