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Japan’s factory activity contracted at a record pace since March 2009 amid a virus-hit economy that led to a sharp decline of domestic and overseas demand.
Its Manufacturing Purchasing Managers’ Index (PMI) fell from a final 47.8 to a seasonally adjusted 44.8 in February. This was observed as the lowest in a decade when Japan was hit by a devastating tsunami.
Recent major exports also declined as the coronavirus pandemic caused panic and disruption among several key trading partners in neighboring areas.
A central bank survey on Wednesday showed that manufacturing outlook turned sour for the first time in seven years, further piling on the pressure on the nation’s policymakers.
Japan’s economy also shrank in the last quarter which was a result of a previous tax hike and the U.S.-China trade war which placed the world’s third-largest economy near a recession.
The Dollar fell to two-year lows on Friday, heading to its lowest decline in 10 years as concerns mounted over the economic recovery of the U.S. amid a second resurgence of the COVID-19 pandemic. The Dollar index plunged to 92.777, on course ...
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 ...
Oil prices fell on Thursday as the rising global coronavirus cases weighed on fuel demand recovery just as OPEC+ producers are set to increase supply. The Brent contract for October slid 0.05%, or 2 cents, at $44.07 per barrel, while the September ...
Samsung Electronics Co Ltd looks forward to the second half of the year as it expects a larger increase in chip demand brought by new smartphone launches. However, the company warned that the coronavirus crisis and trade disputes carry risks. Samsung, ...
KYC Policy