Mount Fuji, Japan

Japan PMI January 2020

Japan: Composite PMI jumps to a four-month high in January

A flash reading of the Jibun Bank composite Purchasing Managers’ Index (PMI) showed an increase to 51.1 in January from a revised 48.6 in December (previously reported: 49.8). The index therefore displayed growth in the Japanese private-sector economy in January from the previous month, after showing a contraction in December.

The services sector continued to lead the way in January, with the PMI hitting 52.1, up from 49.4 in December, as stronger increases in new business and employment were recorded, while output charges also moved into inflation territory.

The manufacturing sector, however, languished in January, with the PMI logging 49.3, up from 48.8 in December but evident of a contraction in the manufacturing sector.

Commenting on the reading, Joe Hayes of IHS Markit said: “While official data are yet to confirm it, the fourth quarter looks on track to register and ugly decline in GDP. The January flash numbers will certainly allay fears for now of an impending technical recession in Japan.”

Free sample report

Access essential information in the shortest time possible. FocusEconomics provide hundreds of consensus forecast reports from the most reputable economic research authorities in the world.
Close Left Media Arrows Left Media Circles Right Media Arrows Right Media Circles Arrow Quote Wave Address Email Telephone Man in front of screen with line chart Document with bar chart and magnifying glass Application window with bar chart Target with arrow Line Chart Stopwatch Globe with arrows Document with bar chart in front of screen Bar chart with magnifying glass and dollar sign Lightbulb Document with bookmark Laptop with download icon Calendar Icon Nav Menu Arrow Arrow Right Long Icon Arrow Right Icon Chevron Right Icon Chevron Left Icon Briefcase Icon Linkedin In Icon Full Linkedin Icon Filter Facebook Linkedin Twitter Pinterest