Japan flash manufacturing PMI for January drops to 48.8 (prior 49.6)

Japan flash manufacturing PMI for January drops to 48.8, a 10-month low

• prior 49.6

Services 52.7

• prior 50.9

Composite 51.1

• prior 50.5

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Earlier today we got Japan's core inflation rate (in December 2024) hitting a 16 month high:

• Japan December headline CPI +3.6% (expected +3.4%, prior 2.9%)

Keeping the Bank of Japan well on track for a rate hike later today:

• Poll shows 18 out of 19 economists expect a Bank of Japan rate hike on Friday
• The BOJ meet today and tomorrow and is unlikely to delay rate hike action