HEWJ - Flash PMI Signal Cooling Inflation And Stagnating Private Sector Activity In Japan

2024-02-23 09:51:00 ET

Summary

• Japan's private sector activity broadly stagnated in February according to flash PMI data, attributed to a combination of slowing services activity growth and an acceleration in manufacturing output contraction.
• A sharper decline in goods new orders, underpinned by sluggish demand conditions, also largely offset improved demand for services.
• The slowing of growth and further cooling of inflationary pressures midway into the first quarter therefore place less pressure on the Bank of Japan.

Japan's private sector activity broadly stagnated in February according to flash PMI data, attributed to a combination of slowing services activity growth and an acceleration in manufacturing output contraction. A sharper decline in goods new orders, underpinned by sluggish demand conditions, also largely offset improved demand for services....

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