Japan's manufacturing sector improves in March

# 03 April 2023 04:55 (UTC +04:00)

The Japanese Jibun Bank Flash Manufacturing PMI Index landed at 49.2 in March, above 47.7 in February, S&P Global's report released on Monday showed, APA reports citing Teletrader.

Despite the improvement on a monthly basis, the reading fell below 50.0, helped by a further contraction in production levels, though it was the mildest in five months. The decline was moderate and was due to weak customer demand.

"Both output and new orders fell at the softest rates for five months, though the latter still saw a solid reduction, with panel members signaling subdued market demand in both domestic and international markets," Usamah Bhatti, Economist at S&P Global Market Intelligence, said.