The manufacturing sector in Japan continued to expand in September, albeit at a slower rate, the latest survey from Jibun Bank showed on Friday with a manufacturing PMI score of 51.5.
That’s down from 52.7 in August although it remains above the boom-or-bust line of 50 that separates expansion from contraction.
New orders among Japanese manufacturers fell for the first time since December 2020. The pace of the decline was the quickest recorded for ten months, though was marginal overall. Respondents linked lower sales to weaker client confidence in the domestic market.
On the other hand, foreign demand for Japanese manufactured goods reversed the decline reported in August to increase marginally in the latest survey period, with firms citing stronger demand in key markets, notably in China and the United States.
The material has been provided by InstaForex Company – www.instaforex.com