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Pace of contraction in Japanese factory activity slows in April – PMI

Tokyo, May 1 (Reuters)Japan’s factory activity shrank for a sixth straight month in April, but details of a private survey released on Monday showed the manufacturing sector is heading for stabilization amid a slowdown in new orders. .

The au Jibun Bank Japan Manufacturing Purchasing Managers Index for April rose slightly from 49.2 in March, matching preliminary figures.

New orders contracted at their slowest pace since July as inbound demand stabilized modestly, but remained below the 50.0 threshold for the 10th straight month.

Factory output also fell for the 10th straight month, with some manufacturers saying raw material shortages weighed on production.

Final PMI readings follow government data Last week, a survey of manufacturers showed that factory output in Japan rose slightly in March, although it forecast a 4.1% increase in April.

Japan’s economy is slowly recovering from coronavirus recession, but bankruptcies are on the rise, Japanese say Government monthly economic report Last week, it reiterated its warning of global financial volatility in response to the recent financial crisis of Western banks. collapse.

Input price inflation eased to its lowest pace since August 2021, but rising raw material costs kept prices still relatively high.

These cost pressures were evident as output price inflation widened at its highest rate to a five-month high as firms sought to secure profits through higher selling prices.

The study showed that supplier delays below the 50.0 threshold since February 2020 were the least prevalent in the current sequence in April.

“Firms often attribute this to weak demand, but the pressure on material availability has eased,” said Usama Bhatti, an economist at S&P Global Market Intelligence who compiled the survey. rice field.

Employment grew at its strongest pace since October, but business confidence remained strong, little changed from March.

(Edited by Sri Navaratnam and reported by Hidemi Yamamitsu)

((Eimi.Yamamitsu@thomsonreuters.com;))

The views and opinions expressed herein are those of the authors and do not necessarily reflect those of Nasdaq, Inc.

Summarize this content to 100 words
Tokyo, May 1 (Reuters) – Japan’s factory activity shrank for a sixth straight month in April, but details of a private survey released on Monday showed the manufacturing sector is heading for stabilization amid a slowdown in new orders. .
The au Jibun Bank Japan Manufacturing Purchasing Managers Index for April rose slightly from 49.2 in March, matching preliminary figures.

New orders contracted at their slowest pace since July as inbound demand stabilized modestly, but remained below the 50.0 threshold for the 10th straight month.
Factory output also fell for the 10th straight month, with some manufacturers saying raw material shortages weighed on production.
Final PMI readings follow government data Last week, a survey of manufacturers showed that factory output in Japan rose slightly in March, although it forecast a 4.1% increase in April.
Japan’s economy is slowly recovering from coronavirus recession, but bankruptcies are on the rise, Japanese say Government monthly economic report Last week, it reiterated its warning of global financial volatility in response to the recent financial crisis of Western banks. collapse.
Input price inflation eased to its lowest pace since August 2021, but rising raw material costs kept prices still relatively high.

These cost pressures were evident as output price inflation widened at its highest rate to a five-month high as firms sought to secure profits through higher selling prices.
The study showed that supplier delays below the 50.0 threshold since February 2020 were the least prevalent in the current sequence in April.
“Firms often attribute this to weak demand, but the pressure on material availability has eased,” said Usama Bhatti, an economist at S&P Global Market Intelligence who compiled the survey. rice field.
Employment grew at its strongest pace since October, but business confidence remained strong, little changed from March.

(Edited by Sri Navaratnam and reported by Hidemi Yamamitsu)
((Eimi.Yamamitsu@thomsonreuters.com;))

The views and opinions expressed herein are those of the authors and do not necessarily reflect those of Nasdaq, Inc.

https://www.nasdaq.com/articles/japans-factory-activity-contracts-at-slower-pace-in-april-pmi Pace of contraction in Japanese factory activity slows in April – PMI

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