Jibun Bank / S&P Global PMIs from Japan for December 2024
Services: 50.9, strongest new business inflows in four months
- Flash reading was 51.4 (more on this preliminary reading is here)
- November was 50.5
More:
- Activity Growth: Modest expansion, supported by domestic demand, though export sales continued to decline.
- Employment: Payroll numbers increased for the 15th consecutive month, driven by business expansion efforts.
- Backlogs: Outstanding business rose for the second month due to higher demand.
- Inflation: Input and charge inflation remained high but stable, attributed to rising raw material and wage costs.
- Outlook: Businesses remained optimistic about 2025, though confidence was slightly below 2024’s average.
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Composite: 50.5, highest in three months
- Flash reading was 50.8
- November was 50.1
More:
- Services Growth: Mild expansion in services offset a softer contraction in manufacturing output.
- New Business: New orders increased, driven by gains in the service sector, though manufacturing saw a slight decline.
- Employment: Firms modestly increased staffing levels, supported by optimism for a broader economic recovery.
- Inflation: Input and output prices rose sharply, with prices charged increasing at the fastest pace since May.
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Meanwhile, USD/JPY has popped up a little:
