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June had seen Japan’s manufacturing activity struggling at an 11-year low. This indicated that the novel coronavirus pandemic has greatly affected manufacturers even as services-sector confidence advanced.
The au Jibun Bank Flash Japan Manufacturing Purchasing Managers’ Index (PMI) dropped to a seasonally adjusted 37.8. It followed after placing at 38.4 in May. This came to be the sharpest reading since March 2009 for two consecutive months, placing below the 50.0 mark that separates contraction from expansion for 14 months.
The inactivity monitored in the manufacturing sector highlighted the sustained damage of the virus crisis on export-dependent economies such as Japan’s. More so, the world’s third-biggest economy is likely to suffer from its sharpest postwar slump this quarter.
Oil traded higher on Friday, further reclaiming lost ground from three-week lows in the previous session as the COVID-19 situation continued to dent the global economy as well as oil consumption. Brent crude gained 0.3%, trading at $43.08 ...
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 ...
On Thursday, the United States’ Gross Domestic Product (GDP) suffered the biggest economic decline in the second quarter as the surge of coronavirus cases affected the whole country. The U.S. government decided to shut down restaurants, ...
The second quarter had seen Australian consumer prices dropping by a record. This could be attributed to the coronavirus crisis dragging child care cost and petroleum prices, inflicting a serious damage to years of growth toward higher inflation. Last ...
KYC Policy