au Jibun Bank manufacturing PMI slips to 49.8 in Jan

Author: Nurluqman Suratman

2021/02/01

SINGAPORE (ICIS)--au Jibun Bank’s manufacturing purchasing managers’ index (PMI) for Japan fell to 49.8 in January from 50.0 in December 2020 on a drop in output as rising coronavirus cases had a renewed impact on the economy, the Japanese bank said on Monday.

A PMI reading below 50 indicates a contraction in the manufacturing economy.

"After remaining broadly unchanged in December, output fell at a marginal pace [in January]", the bank said.

"Where production fell, firms often attributed this to rising Covid-19 infections and the implementation of new restrictions under a new state of emergency," it said.

Some companies noted that the pandemic had dampened client confidence at the start of this year.

"At the same time, goods producers recorded a third consecutive decline in export demand, and one that was quicker than that seen in December," au Jibun Bank added.

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