Japan preliminary February PMI: Manufacturing 47.2 (prior 48.0) | Forexlive

Japan manufacturing purchasing
managers’ index (PMI) fell to 47.2 in February from 48.0 in
January

• has remained below the 50.0, and in contraction, for nine straight
  months
• production subindexes contracted at the fastest pace in a year due to a sharp reduction in new orders
• employment fell at the quickest pace since January 2021

On Services, 52.5 in February from 53.1 in January

• in expansionary (above 50) since September 2022

Composite PMI came in at 50.3 in
February from 51.5 in January

• this combines
  both manufacturing and service sectorr activity

Comment from the report:

• “The Japanese private sector economy saw the slight
  improvement at the start of the year all but evaporate during
  February, as business activity broadly stagnated”
• “Firms were also the least upbeat since January 2023,
  reflecting reduced optimism with regards to future output”