The Jibun Bank Japan Manufacturing PMI came in at 48.4 in December 2019, compared to the flash figure of 48.8 and after a final 48.9 in the previous month. Output fell at the fastest rate since March, amid a further decline in new orders, while weakness remained apparent on the export front. Also, buying level contracted the most since June 2016, with firms reporting cost-cutting efforts. On a positive note, employment continued to rise, while extra resources were available to tackle backlogs of work.
In terms of prices, Output charges were reduced slightly and for the seventh month in a row. This was despite input costs rising at the fastest rate since August. Lastly, confidence was at eight-month high, though remained weak relative to the series average. Manufacturing PMI in Japan averaged 50.20 points from 2008 until 2019, reaching an all time high of 56.20 points in January of 2014 and a record low of 29.60 points in February of 2009.
