Japan's manufacturing sector sees sustained contraction in March: PMI

The country also noted a dip in the rate of input price inflation, improving supply chains, and strengthened business sentiment at the end of the first quarter, as per au Jibun Bank.

Furthermore, Japan’s flash composite output index for March improved from the previous month, reaching 51.9 from 51.1.

“Activity at Japanese private sector firms increased for the third consecutive month, according to March flash PMI data. Meanwhile, manufacturing firms signalled further downbeat figures at the end of the first quarter, with sustained reductions in both output and new orders. While the rates of contraction eased from February, they were still solid and extended the current sequence of weakness to nine months. That said, manufacturers reported that supply chains had continued their path to normalisation, as supplier delivery times lengthened to the least extent since October 2020,” said Usamah Bhatti, economist at S&P Global Market Intelligence.

ALCHEMPro News Desk (DP)