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Japan PMI April 2024

Japan: Business conditions improve at joint-fastest pace in 11 months in April

The au Jibun Bank Composite Purchasing Managers’ Index (PMI) rose to 52.6—the joint-highest reading since May 2023—in April from March’s 51.7. As a result, the index moved further above the 50.0 no-change threshold, signaling a stronger improvement in private-sector business conditions from the prior month.

The Manufacturing PMI stood at 49.9 in April, up from March’s 48.2, while the Services PMI rose to 54.6 in April (March: 54.1).

In the manufacturing sector, output and new orders fell less quickly, and employment grew for the second consecutive month. In the services sector, output and new orders expanded speedily, while employment rose at a stable pace.

Input and output prices rose more sharply in both the manufacturing and services sectors. Finally, business confidence strengthened in the manufacturing sector and deteriorated in the services sector.

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