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Asian Economic News

Japan Manufacturing Sector Contracts Sharply In April

By RTTNews Staff Writer   ✉  | Published:  | Google News Follow Us  | Join Us
rttnewslogo20mar2024

Japan's manufacturing activity deteriorated at the fastest pace in over three years in April, he latest flash survey from Markit Economics showed Friday.

The Markit/ Nikkei Manufacturing Purchasing Managers' Index, or PMI, fell to 48.0 in April from 49.1 in the previous month.

The latest reading signaled quickest contraction in manufacturing conditions since January 2013.

A score below 50 indicates contraction, while any score above 50 suggests expansion in the sector.

Manufacturing output declined at the steepest pace in two years in April. Similarly, new orders dropped markedly during the month.

"The sharp drop in total new work was underpinned by the fastest fall in international demand since December 2012, and following the two earthquakes on the island of Kyushu," Amy Brownbill, economist at Markit, said.

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