The au Jibun Bank Japan Manufacturing PMI inched up to 54.6 in January 2022 from a final 54.3 a month earlier, a preliminary reading showed. This was the twelfth straight month of growth in factory activity, and the strongest growth since January 2018, amid surging vaccinations and despite pressure from a persistent chip shortage. Both output and new order growth quickened, with the latter rising at the fastest pace for nine months.
Also, new export order growth accelerated while buying levels rose at a quicker pace. In addition, the rate of job creation moderated, with backlogs of work increasing at a faster rate. On the price front, input prices continued to increase, while output cost inflation accelerated to the highest level since July 2008. Finally, business confidence weakened to a 5-month low, amid worries the impact of the pandemic.
