The recent report from Jibun Bank displayed a continued contraction in Japan’s manufacturing sector during the month of March, although the decline was not as sharp. The manufacturing Purchasing Managers’ Index (PMI) for the period came to 48.2, showing an improvement from February’s score of 47.2. However, this figure still falls below the critical threshold of 50, which distinguishes between growth and contraction.The survey indicated a deceleration in the reduction of both output and new orders during the recent period, with new orders falling at the least severe rate since October of last year. Continuous falls in new orders coupled with a renewed increase in employment levels have resulted in surplus capacity within the sector.In addition, the services Purchasing Managers’ Index (PMI) showed improvement, rising to 54.9 in March from 52.9 in February.The material has been provided by InstaForex Company – www.instaforex.com
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