Japan Jibun Bank PMI Manufacturing April 2025 Final 48.7 (prior 48.4, preliminary 48.5)

Japan Jibun Bank PMI Manufacturing April 2025 Final

• prior 48.4, preliminary 48.5

From the report:

Commenting on the latest survey results, Annabel Fiddes, Economics Associate Director at S&P Global Market Intelligence, said:

• "Business conditions continued to weaken across Japan's manufacturing industry in April, with firms noting steeper falls in both overall new orders and new export sales.
• "This prompted firms to cut back on their purchasing activity and readjust their inventories, while worries over the demand outlook weighed on expectations around the year-ahead. Business confidence regarding future output hit its lowest level since mid-2020, during the initial wave of the COVID-19 pandemic, with firms commenting that heightened uncertainty around global trade conditions and demand had made them more cautious.
• "Firms are likely to struggle to see a recovery in conditions unless there is a noticeable improvement in demand both at home and overseas, which requires an improved global outlook and greater certainty around future trade relationships."

Bolding is mine. Quite a lot of negatives in there.

The Bank of Japan statement is due today, the Bank is expected to be on hold:

• Headlines crossing saying the BoJ is likely to slash its GDP forecasts - from 4 days ago

Bank of Japan Governor Ueda's press conference follows at 0630 GMT