The au Jibun Bank Japan Manufacturing PMI was at 48.0 in January 2024, little changed from a final of 47.9 in December which was the lowest figure in ten months, coming less than market forecasts of 48.2, a preliminary estimate showed.
It was the eighth straight month of contraction in factory activity amid decreases in both output and new orders, with the former falling at the slowest rate for three months.
The au Jibun Bank Japan Services PMI was up to 52.7 in January 2024 from a final 51.5 in December, a preliminary reading showed. It was the 17th straight month of expansion in the service sector and the strongest pace since September, with growth in new business picking up while foreign demand rose for the first time in five months.
The au Jibun Bank Japan Composite PMI rose to 51.1 in January 2024 from a final 50.0 in the prior month, a flash figure showed. It was the highest reading since September, with services activity continuing to lead the way as the expansion strengthened to a four-month high.