2024-03-21 02:10:54 ET
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The au Jibun Bank Japan Manufacturing PMI increased to 48.2 in March 2024 from a final 47.2 in the previous month, the lowest since August 2020, despite a ten-month contraction in factory activity and the softest drop since November, flash data showed.
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The au Jibun Bank Japan Services PMI increased to 54.9 in March 2024 from 52.9 in February, marking the 19th consecutive month of growth in the service sector.
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The au Jibun Bank Japan Composite PMI rose to 52.3 in March 2024 from a final 50.6 in February, flash data showed, marking the third consecutive month of private sector growth, with service providers expanding the most in ten months.
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Nikkei 225 ( NKY:IND ) jumped 2.5% to above 40,825, reaching new record levels as the US Federal Reserve reiterated expectations for three interest rate cuts this year.
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( USD:JPY ) is trading at 150.979.
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More on Japan
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Japan's central bank hikes interest rate after 17 years, scraps yield curve control
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Japan's industrial output falls 6.7% in January, less than an initial estimate
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Japan Services PMI revised higher to 52.9 in February amid rise in domestic demand
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Japan's economy avoids recession as strong capex boosts Q4 GDP
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Japan's manufacturing activity rises to 48.2 in March; services PMI increased to 54.9