Jibun / S&P Global Final January PMIs for Japan is 48.0
- preliminary was 48.0
- 47.9 prior
Comment from the report (in brief):
- highlights a sustained downturn in manufacturing sector performance at the start of 2024
- Depressed economic conditions at home and globally weighed heavily on the sector
- both output and new orders were scaled back further, with the decline in the latter remaining notably sharp
- manufacturers signalling the sharpest depletion in outstanding business since August 2020
- Japanese manufacturers faced additional pressures on the price and supply front. Cost burdens reportedly rose at a marked pace yet again amid high raw material, labour and fuel prices, while manufacturers signalled a steeper deterioration in supplier performance that was the worst for three months. Anecdotal evidence often pointed to delivery and logistical delays, with some firms noting the impact of the disruption in the Red Sea
