Economic Buzz: Manufacturing Sector In Japan Grows At Slower Pace

2 May 2022 , 11:23 AM

The manufacturing sector in Japan continued to expand in April, albeit at a slower rate, the latest survey from Jibun Bank showed on Monday with a manufacturing PMI score of 53.5. Thats down from 54.1 in March although it remains above the boom-or-bust line of 50 that separates expansion from contraction. The lower reading of the headline index was partly the result of a softer rise in new orders. Sales increased for the seventh month running, though growth eased to a milder pace overall. Firms commented that growth was held back by delivery delays and the Russia-Ukraine war. Geopolitical tensions and rising COVID-19 cases in China continued to weigh heavily on export orders, which fell solidly for the second month running. Production levels increased for the second successive month in April, with the rate of growth little-changed from March.

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