Japan Manufacturing PMI for September 2024, final from S&P Global/Jibun Bank.
Another shrinkage result.
Primary here:
Key points in the report:
- Production levels fall for the second time in three months
- The slowest rise in employment levels in the current seven-month sequence
- Excise duty inflation reaches its lowest levels since June 2021
This isn’t a great report, but it hasn’t been for a while. Japan’s latest Purchasing Managers’ Index (PMI) results point to a weak outlook for the manufacturing sector, with both production and new orders sliding into contraction. The data also shows a significant slowdown in job creation, and companies have reported a decline in vendor performance.
In response to these challenges, many manufacturers have stepped up their purchases of inputs, with the aim of stockpiling materials in anticipation of a future demand recovery. Some companies have also cited extended delivery times as an incentive to buy early, seeking to mitigate the risk of further delays.
Despite the current challenges, manufacturers remain optimistic about a recovery in production over the next year, with overall confidence above average in the long term. However, the level of positive sentiment has declined, reaching its lowest level since late 2022, as some companies expressed increasing concerns about the future.
Comments are closed, but trackbacks and pingbacks are open.