Japan's manufacturing activity grew at a slower pace from the previous month in April as supply chain disruptions and strict Chinese coronavirus lockdown measures hurt overseas demand.
Activity in the sector was held up by resilience in output, overall orders and optimism about the year ahead, even as producers grew more wary of persisting price pressures, the Ukraine war, logistics logjams and the global economic outlook.
"Latest PMI data pointed to a sustained expansion in the Japanese manufacturing sector at the start of the second quarter," said Usamah Bhatti, economist at S&P Global, which compiles the survey. The PMI survey showed that input prices jumped at the strongest pace since August 2008, pushing manufacturers to raise selling prices at the fastest rate in the survey history.
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