India, March 23 -- The manufacturing sector in Japan continued to contract in March, and at a faster pace, the latest survey from Jibun Bank revealed on Monday with a manufacturing PMI score of 48.3.
That's down from 49.0 in February, and it moved further beneath the boom-or-bust line of 50 that separates expansion from contraction.
Though modest, the rate of decline was the quickest seen in a year, with firms registering steeper falls in both production and new orders. As a result, companies cut back solidly on purchasing activity and continued to trim their inventories. Employment was a bright spot, with firms adding to their workforce numbers for the fourth straight month.
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