Japan: Business conditions nearly stagnate in February
The au Jibun Bank Composite Purchasing Managers’ Index (PMI) fell to 50.3 in February from January’s 51.5. As a result, the index moved closer to the 50.0 no-change threshold, signaling a weaker improvement in private-sector business conditions from the prior month.
The Manufacturing PMI stood at 47.2 in February, down from January’s 48.0. Lastly, the Services PMI decreased to 52.5 in February (January: 53.1).
In the manufacturing sector, output and new orders fell more sharply, and employment shrank more quickly. In the services sector, output grew more rapidly and new orders less rapidly, while employment expanded at a faster speed.
Input and output prices rose less quickly in the manufacturing and services sectors. Finally, business sentiment deteriorated in the manufacturing sector and strengthened in the services sector.