Japan’s Manufacturing PMI Falls to Lowest Since August 2020
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A key gauge of Japan’s manufacturing activity fell to the weakest in more than three years, sending a cautionary signal to the Bank of Japan as it mulls an exit from its ultra-stimulative policy settings.
The au Jibun Bank purchasing managers index for manufacturing sector activity slid to 47.2 in February, the lowest since August of 2020, and the ninth straight month in which the figure stayed below the boom-or-bust level of 50, S&P Global reported Thursday. The composite reading slid to 50.3, and services fell to 52.5.