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Japan’s factory activity for June contracted for its 14th straight month amid sharp reductions in supply and demand, according to data from a business survey released on Wednesday.
Japan is one of many export-reliant nations that have been severely affected by the COVID-19 pandemic where lockdown measures disrupted supply chains and urged consumers to remain indoors.
The final au Jibun Bank Japan Manufacturing Purchasing Managers' Index (PMI) rose to a seasonally adjusted 40.1 from 38.4 in May. The index remained below the 50.0 threshold that indicates expansion.
Furthermore, manufacturers have struggled with fragile demand capacity, which prevented output, new orders, and purchasing activity from expanding.
However, the future output subindex moved into positive territory for the first time since February as hopes strengthened for a gradual economic recovery, IHS Markit said.
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 ...
China's diesel exports for June fell by 50% year-on-year, a record low since September 2018 as lockdown measures around the world continued to curb fuel demand. China exported has 1.04 million tons of diesel, compared to the 1.45 million and ...
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 ...
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