The manufacturing sector in Japan bounced up into expansion territory in January, the latest survey from S&P Global revealed on Monday with a manufacturing PMI score of 51.5.
That’s up from 50.0 in December, which marked stagnation as being right non the line that separates expansion from contraction.
Helping to push the headline PMI back into growth territory was a fresh increase in new business placed with Japanese manufacturers in January. Total new orders expanded for the first time since May 2023, and to the greatest extent in nearly four years. Companies often commented that stronger demand conditions and new product launches had supported sales.
Furthermore, new export business rose for the first time since February 2022, which was partly attributed to stronger demand across key markets such as the US and Taiwan. Improved customer demand prompted factories to expand their production levels for the first time since last June. Though modest, the rate of growth was the best seen since April 2022 and exceeded the series average.
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