Japan: Composite PMI deteriorates slightly in April
The au Jibun Bank Composite Purchasing Managers’ Index (PMI) came in at 52.5 in April, down from March’s 52.9. As a result, the index moved closer to the 50.0 no-change mark, pointing to a softer improvement in private sector operating conditions from the previous month.
The manufacturing PMI clocked in at 49.5 in April, up from March’s 49.2. Lastly, the services PMI decreased to 54.9 in April (March: 55.0).
In the services sector, output grew at a weaker rate for the first time in five months. New orders and employment grew at a faster rate. In the manufacturing sector, output contracted at a weaker rate. New orders fell at a weaker pace, and employment grew at a roughly stable pace. Looking at prices, input inflation rose in the services sector but declined in the manufacturing sector, while output inflation rose in both. Finally, business sentiment improved in the services sector but eased in the manufacturing sector.