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.