Japan’s manufacturing activity advanced for the 11th straight month in December but grew at a slower pace than previous month amid softening of output and new orders while cost pressure remained elevated.
Weaking impact of coronavirus pandemic benefited businesses. The final au Jibun Bank Japan Manufacturing Purchasing Managers’ Index (PMI) in December fell to 54.3 on a seasonally adjusted basis, easing from the previous month’s 54.5.
“Domestic markets were buoyed by a gradual recovery from the COVID-19 pandemic,” said Usamah Bhatti, economist at IHS Markit.
