The manufacturing sector in Japan continued to expand in March, and at a faster pace, the latest survey from Jibun Bank showed on Thursday with a seasonally adjusted manufacturing PMI score of 52.7.
That’s up from 51.4 in February, and it moves further above the boom-or- bust line of 50 that separates expansion from contraction.
Individually, there were faster increases in output and new orders, while employment levels finally stabilized.
Businesses remain optimistic regarding future output.
Supply chain disruption continued to build during March with average lead times lengthening to the most marked extent since May 2020. Delays in receiving shipments led Japanese manufacturers to increase purchasing activity for the first time since December 2018.
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