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Japan PMI January 2024

Japan: Business activity picks up in January

The au Jibun Bank Composite Purchasing Managers’ Index (PMI) rose to 51.1 in January from December’s 50.0. As a result, the index rose above the 50.0 no-change threshold, signaling an improvement in private-sector business conditions from the prior month.

The Manufacturing PMI stood at 48.0 in January, up from December’s 47.9. Lastly, the Services PMI increased to 52.7 in January (December: 51.5).

In the manufacturing sector, output and new orders fell at less sharp rates, while employment shrank. In the services sector, output and new orders grew at speedier paces, while employment expanded at a faster speed.

Input prices rose less quickly in the manufacturing sector but more quickly in the services sector, while output prices increased less acutely in both sectors. Finally, business sentiment deteriorated in both sectors.

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