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Japan PMI March 2024

Japan: Business conditions pick up in March

The au Jibun Bank Composite Purchasing Managers’ Index (PMI) rose to 52.3—a seven-month high—in March from February’s 50.6. 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 48.2 in March, up from February’s 47.2. Lastly, the Services PMI rose to 54.9 in March (February: 52.9).

In the manufacturing sector, output and new orders fell less acutely, and employment rebounded. In the services sector, output and new orders grew more rapidly, while employment expanded at a slower pace.

Input prices rose less quickly in the manufacturing sector and more speedily in the services sector. Output prices rose more sharply in both sectors. Finally, business sentiment worsened in the manufacturing sector and improved in the services sector.

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