The manufacturing sector in Japan continued to contract in December, albeit at a slower pace, the latest survey from Jibun Bank revealed on Monday with a manufacturing PMI score of 49.6.
That’s up from 49.0 in November, although it remains beneath the boom-or-bust line of 50 that separates expansion from contraction.
Latest data showed there was a softer decrease in output at the end of the year. The rate of decline was only marginal and eased from that seen in the month prior. Firms signaled often that muted demand was behind the latest contraction, though there were some mentions of the introduction of new products.
Manufacturers also indicated a softer preference for the use of existing inventories, as the rate of depletion of finished item holdings was only fractional. There were reports that new order volumes moved closer to stabilization during December, as the rate of reduction eased to the softest for six months.
At the same time, new export demand remained muted amid evidence of low demand from key markets, most notably mainland China and the U.S.
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