Japan's Manufacturing PMI Drops to 48.4 in March

According to the latest report released by S&P Global on Monday, the Japanese Jibun Bank Flash Manufacturing PMI Index has fallen to 48.4 in March, marking a significant downturn in the country's manufacturing activity.

A Deeper Decline Than February

This figure not only lands below the neutral 50 mark but also represents a 0.6-point drop from February's reading, indicating a deeper contraction in the sector.

Expert Analysis

Annabel Fiddes, Economics Associate Director at S&P Global Market Intelligence, commented, "Japan's manufacturing sector slipped deeper into decline at the end of the first quarter of 2025, with the headline PMI hitting a one-year low." This statement underscores the growing challenges facing Japan's manufacturing industry.