01.04.202000:55:00UTC+00Japan Manufacturing Sinks To 44.8 In March

The manufacturing sector in Japan continued to contract in March, and at a faster rate, the latest survey from Jibun Bank revealed on Wednesday with a manufacturing PMI score of 44.8.

That's down from 47.8 in February and it slips further beneath the boom-or-bust line of 50 that separates expansion from contraction.

Individually, production volumes slumped at the fastest rate in almost nine year - since the aftermath of the 2011 tsunami.

The Covid-19 pandemic led to the sharpest drop in demand since 2011 as well, while supply chain issues were further intensified in the past month.