The Jibun Bank Japan Manufacturing PMI dropped to 47.6 in February 2020 from 48.8 in the previous month and well below market expectations of 49.0, a preliminary estimate showed. The latest reading pointed to the steepest pace of contraction in the manufacturing sector since December 2012 amid the coronavirus outbreak, while activity was already under pressure following the sales tax hike and devastating typhoon in October. Output, new orders, exports and backlogs of work all declined at steeper rates, while employment growth slowed. On the price front, output prices dropped after a rise in January, while input price inflation eased. Looking ahead, business sentiment weakened but remained positive.

Manufacturing PMI in Japan averaged 50.17 points from 2008 until 2020, 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. source: Markit Economics

Manufacturing PMI in Japan is expected to be 49.20 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Manufacturing PMI in Japan to stand at 50.20 in 12 months time. In the long-term, the Japan Manufacturing PMI is projected to trend around 51.00 points in 2021 and 49.50 points in 2022, according to our econometric models.


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Japan Manufacturing PMI

Actual Previous Highest Lowest Dates Unit Frequency
47.60 48.80 56.20 29.60 2008 - 2020 points Monthly
SA


News Stream
Japan Manufacturing Contracts the Most in 7 Years
The Jibun Bank Japan Manufacturing PMI dropped to 47.6 in February 2020 from 48.8 in the previous month and well below market expectations of 49.0, a preliminary estimate showed. The latest reading pointed to the steepest pace of contraction in the manufacturing sector since December 2012 amid the coronavirus outbreak, while activity was already under pressure following the sales tax hike and devastating typhoon in October. Output, new orders, exports and backlogs of work all declined at steeper rates, while employment growth slowed. On the price front, output prices dropped after a rise in January, while input price inflation eased. Looking ahead, business sentiment weakened but remained positive.
2020-02-21
Japan Manufacturing PMI Revised Lower
The Jibun Bank Japan Manufacturing PMI was revised lower to 48.8 in January 2020 from a preliminary estimate of 49.3 and compared to December's 48.4. The latest reading pointed to the ninth consecutive month of contraction in the sector as output fell for a 13th straight month, with sub-sector data revealing that the capital goods segment was a particular source of weakness. In addition, new orders declined amid a continued drop in exports, while employment growth gathered pace and backlogs of work fell solidly. On the price front, input cost inflation picked up to a six-month high amid reports of higher raw material costs and unfavorable exchange rate movements. Firms responded by raising their output prices for the first time since last May. Lastly, business sentiment hit a 17-month high as upbeat demand forecasts, particularly for electronics and related products, helped push output expectations up.
2020-02-03
Japan Manufacturing Shrinks the Least in 5 Months
The Jibun Bank Japan Manufacturing PMI rose to 49.3 in January 2020 from 48.4 in the previous month and above market consensus of 48.7, a preliminary estimate showed. The latest reading marked the ninth straight month of contraction in the manufacturing sector, but the slowest since last August, as both output and new orders fell at softer rate amid a rebound in export sales. In addition, employment growth accelerated, while backlogs of work fell faster. On the price front, input price inflation softened while output price recovered from the previous month's drop. Finally, business confidence strengthened in the wake of easing US-China tensions and optimism regarding Japanese relations with South Korea.
2020-01-24
Japan Manufacturing PMI Revised Lower
The Jibun Bank Japan Manufacturing PMI came in at 48.4 in December 2019, compared to the flash figure of 48.8 and the previous month's final 48.9. Output fell at the second-fastest rate in over three-and-a-half years, only narrowly beaten by March's decline. In addition, new orders continued to drop amid a further reduction in new export sales due to global trade conflicts and lower demand from China. Stocks of purchases were also trimmed, with firms reporting cost-cutting efforts and reduced purchasing activity. On a positive note, employment continued to rise and business optimism towards output strengthened to an eight-month high. In terms of prices, input costs rose the most since August while output charges were reduced slightly and for the seventh month in a row.
2020-01-06

Japan Manufacturing PMI
The Jibun Bank Japan Manufacturing PMI® is compiled by IHS Markit from responses to monthly questionnaires sent to purchasing managers in a panel of around 400 manufacturers. The panel is stratified by detailed sector and company workforce size, based on contributions to GDP. Survey responses indicate the direction of change compared to the previous month. A diffusion index is calculated for each survey variable. The index is the sum of the percentage of ‘higher’ responses and half the percentage of ‘unchanged’ responses. The indices vary between 0 and 100, with a reading above 50 indicating an overall increase compared to the previous month, and below 50 an overall decrease. The PMI 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.