The activity in Japan's manufacturing sector decreased at a slower pace in December with the Jibun Bank Manufacturing Purchasing Managers' Index (PMI) landing at 49.6, according to a report by S&P Global published on Monday.
While the figure remained below the neutral 50 mark, the decline in the country's manufacturing sector was slower when compared to November, when the PMI stood at 49.0.
"The final batch of PMI data for 2024 painted a picture of a near-stabilisation in Japanese manufacturing sector conditions during December. The headline reading moved closer to neutrality amid softer reductions in both production and new order intakes. Firms were buoyed enough from the softer moderations to take on additional staff at the end of the year, partly in preparation for a future improvement in demand conditions, as well as to fill existing labour shortages," Usamah Bhatti at S&P Global Market Intelligence said in the report.
