(Finance) – Confirms a contraction onmanufacturing activity in Japan in December 2023. The manufacturing PMI index developed by Jibun Bank, published by S&P Global, indicates a value of 47.7 points, compared to 48.3 points in November. This is the fastest deterioration in manufacturing sector conditions in the last ten months.
The indicator thus remains below the critical threshold of 50 points, the dividing line between the phase of contraction – values below – and expansion – values above. The estimates of analysts they were for a level at 48.2 points.
“The December PMI surveys indicate that the Japanese private sector recorded a renewed, albeit slight, increase in overall economic activity towards the end of the year – commented Annabel Fiddes, Economics Associate Director at S&P Global Market Intelligence – The recovery is was supported by a stronger increase in service activity, which offset a faster contraction in industrial production. That said, the Overall performance of the private sector remained modestespecially when compared to growth rates seen earlier in the year, when demand conditions cooled amid reports of a sluggish economic environment.