Japan Manufacturing PMI

Last Release

Jul 31, 2024

Actual

49.1

Units In

Points

Frequency

Monthly

Next Release

N/A

Time to Release

N/A

Highest	Lowest	Average	Date Range	Source
56.2 Jan 2014	29.6 Feb 2009	50.11 Points	2008-2024	Markit Economics

The Jibun Bank Japan Manufacturing PMI® is compiled by IHS Markit from responses to monthly questionnaires sent to purchasing managers in a panel of around 400 manufacturers. The panel is stratified by detailed sector and company workforce size, based on contributions to GDP. Survey responses indicate the direction of change compared to the previous month. A diffusion index is calculated for each survey variable. The index is the sum of the percentage of ‘higher’ responses and half the percentage of ‘unchanged’ responses. The indices vary between 0 and 100, with a reading above 50 indicating an overall increase compared to the previous month, and below 50 an overall decrease. The PMI is a weighted average of the following five indices: New Orders (30%), Output (25%), Employment (20%), Suppliers’ Delivery Times (15%) and Stocks of Purchases (10%). For the PMI calculation the Suppliers’ Delivery Times Index is inverted so that it moves in a comparable direction to the other indices.

Latest Updates

The au Jibun Bank Japan Manufacturing PMI was revised higher to 49.2 in October 2024 from a flash reading of 49.0, following a final figure of 49.7 in the previous month. It marks the fourth consecutive month of contraction in factory activity and the sharpest decline since March. Output shrank at the fastest pace in six months, while new orders fell for the seventeenth month in a row and the steepest pace in three months, with export orders falling the most in seven months due to weak demand. Job creation stagnated amid reduced capacity pressures, with backlogs of work dropping at the steepest rate in seven months. Additionally, purchasing activity fell while supplier delivery times lengthened. On the pricing front, input cost inflation eased to a six-month low while output price inflation accelerated. Finally, business sentiment remained positive but was little changed from September’s 21-month low amid concerns regarding the timing of the recovery from the current economic malaise.