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Contraction in Japan’s factory activity bogs down in slowest pace in five months
Japan’s factory activity shrank for a ninth-month straight in January at the slowest pace in five months. Economists speculate the slowing of pace to be reflecting the positive feedback of the U.S.-China Phase One deal and alleviating fears of a recession.
The Jibun Bank Flash Japan Manufacturing Purchasing Managers' Index (PMI) edged up to a seasonally adjusted 49.3 from a final 48.4 in December.
The index stayed below the 50.0 threshold that separates contraction from expansion for a ninth month - the longest stretch since a nine-month run to February 2013.
The Jibun Bank Flash Japan Services PMI index came in at a seasonally adjusted 52.1 from the previous month's 49.4, edging closer to a nearly two-year high of 53.3 in August. It later turned 51.1 in January from the previous month's final of 48.6, marking the fastest expansion in four months.
Many economists expect the world's third largest economy to have contracted in the October-December quarter due to the fallout of the U.S.-China trade war and the tax hike impact. Currently, it is seen recovering albeit moderately at the start of this year.
Japan’s Finance Minister Taro Aso expressed worries about the yen’s continual rise, calling it “rapid” and hinting at the strong currency’s impact on exports as Japan struggles through a recession. The yen’s ...
June had seen Japan’s industrial output breaking its four-month slump. The recuperation could be attributed to a modest recovery seen in broader business and consumer activity after the world’s third-biggest economy suffered from ...
Japan’s first-quarter business spending came smaller than what was initially estimated, revised data showed on Monday. This underscored a sharper damage that the novel coronavirus pandemic had inflicted on the world’s third-biggest ...
Japan's industrial output is expected to recover in June from a double-digit decline in May amid hopes that factory activity may have reached its lowest due to the coronavirus pandemic, according to a Reuters’ poll of 13 economists. While ...
Renault SA (RENA.PA) announced on Monday that its global car sales fell by 34.9% in the first half of the year due to the impact of the coronavirus pandemic. However, the company said that it had seen some signs of recovery in June. The French ...
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