The au Jibun Bank Japan Manufacturing PMI edged up to 49.7 in August 2023 from 49.6 in July, slightly above the market forecast of 49.5, flash data showed. The reading indicates the third consecutive month of contraction in factory activity, albeit at a slowed pace of decline. Output, new orders, and export sales all decreased at softer rates, while employment was unchanged, ending a 28-month sequence of job creation. Meanwhile, a fall in backlogs of work accelerated and suppliers’ delivery times lengthened for the first time in four months. On the price front, input costs increased the most in three months, with a number of firms reporting higher costs for crude oil, while the rate of output price inflation eased to its lowest in over two years. Finally, sentiment weakened but remained positive. source: Markit Economics

Manufacturing PMI in Japan averaged 50.19 points from 2008 until 2023, reaching an all time high of 56.20 points in January of 2014 and a record low of 29.60 points in February of 2009. This page provides the latest reported value for - Japan Manufacturing PMI - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Japan Manufacturing PMI - data, historical chart, forecasts and calendar of releases - was last updated on August of 2023.

Manufacturing PMI in Japan is expected to be 50.00 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Japan Manufacturing PMI is projected to trend around 52.90 points in 2024 and 52.00 points in 2025, according to our econometric models.

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Japan Manufacturing PMI



Related Last Previous Unit Reference
Services PMI 54.30 53.80 points Aug 2023
Manufacturing PMI 49.70 49.60 points Aug 2023
Composite PMI 52.60 52.20 points Aug 2023

Japan Manufacturing PMI
The au Jibun Bank Japan Manufacturing PMI is compiled by S&P Global from responses to monthly questionnaires sent to purchasing managers in a panel of around 400 manufacturers. The headline figure is the Purchasing Managers’ Index (PMI), which is a weighted average of the following five indices: New Orders (30%), Output (25%), Employment (20%), Suppliers’ Delivery Times (15%) and Stocks of Purchases (10%). For the PMI calculation the Suppliers’ Delivery Times Index is inverted so that it moves in a comparable direction to the other indices. The index varies between 0 and 100, with a reading above 50 indicating an overall increase compared to the previous month, and below 50 an overall decrease.
Actual Previous Highest Lowest Dates Unit Frequency
49.70 49.60 56.20 29.60 2008 - 2023 points Monthly
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News Stream
Japan Factory Activity Contracts at Softer Pace
The au Jibun Bank Japan Manufacturing PMI edged up to 49.7 in August 2023 from 49.6 in July, slightly above the market forecast of 49.5, flash data showed. The reading indicates the third consecutive month of contraction in factory activity, albeit at a slowed pace of decline. Output, new orders, and export sales all decreased at softer rates, while employment was unchanged, ending a 28-month sequence of job creation. Meanwhile, a fall in backlogs of work accelerated and suppliers’ delivery times lengthened for the first time in four months. On the price front, input costs increased the most in three months, with a number of firms reporting higher costs for crude oil, while the rate of output price inflation eased to its lowest in over two years. Finally, sentiment weakened but remained positive.
2023-08-23
Japan Manufacturing PMI Revised Higher
The au Jibun Bank Japan Manufacturing PMI was revised upward to 49.6 in July 2023 from a flash reading of 49.4 but was lower than a final 49.8 in June. The latest result also pointed to the sixth contraction in factory activity so far this year, amid sustained modest reductions in both output and new orders. Meantime, foreign sales shrank for the 17th month but the rate of fall was the softest in nine months. Employment increased for the 28th straight month, while backlogs of work fell for the 10th straight month, with the pace of decline being the softest since October 2022. Moreover, buying levels extended their current contractionary sequence to one year. On the cost side, input prices rose the least since February 2021, in line with the long-run series average. Charged price inflation was unchanged from June's 21-month low, but remained steep overall. Finally, sentiment strengthened to a 1-1/2-year high, owing to hopes of further improvement in demand and new product launching.
2023-08-01
Japan Manufacturing Activity Contracts
The au Jibun Bank Japan Manufacturing PMI fell to 49.4 in July 2023, the lowest since March, from 49.8 in May, a flash figure showed. The reading pointed to the sixth contraction in factory activity so far this year, as new orders dropped the most since March while output, foreign sales, and buying levels all continued to shrink despite their rates of decline softening from the prior month. Meantime, employment growth eased, while backlogs of work decreased at a softer rate and delivery time pointed to a weaker improvement. Turning to inflation, the rate of input price inflation dipped to the lowest since February 2021, though manufacturers looked to pass higher cost burdens to clients to a greater extent for the first time since April. Concurrently, sentiment eased yet remained at the joint-second highest level seen since the start of 2022.
2023-07-24