Japan Manufacturing Sector Continues To Stagnate

(RTTNews) - The manufacturing sector in Japan continued to contract in March, and at a faster pace, the latest survey from Jibun Bank revealed on Tuesday with a manufacturing PMI score of 48.4.

That's down from 49.0 in February and it moves further beneath the boom-or-bust line of 50 that separates expansion from contraction.

Data broken down by sector indicated that operating conditions deteriorated at a faster pace across the intermediate and investment goods segments. Consumer goods makers meanwhile signaled the first decline in the health of its sector for eight months. Manufacturing production in Japan fell for the seventh month running in March, and at the quickest pace in a year.

The drop was commonly linked to weaker customer demand, with total new work falling at a similarly solid pace. New export business also declined again, albeit only marginally, with panelists citing muted demand conditions across key markets such as Mainland China and the U.S.