Japan's manufacturing in decline in September

Monday, 03. October 2022 02:31

The manufacturing sector in Japan saw a decrease in activity in September, S&P Global reported on Monday. The Jibun Bank Japan Manufacturing Purchasing Managers’ Index (PMI) fell to 50.8 from 51.5 in August, the lowest since January 2021. New orders dropped to their lowest level in two years, caused by high prices and weak market conditions. Meanwhile, the rate of job creation quickened to a seven-month high, with survey respondents expressing a "strongly positive business outlook."

"Weakness in the yen is doing little to bolster export demand either and instead is pushing imported inflation up drastically and drove domestic price pressures up even further. Overall input costs rose at one of the sharpest rates on record in September," Senior Economist at S&P Global Joe Hayes noted.

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