Japan posts slowest factory activity expansion in five months

26.07.2021 - Davydova Maria
Japan posts slowest factory activity expansion in five months

A private sector survey on Monday showed Japan’s factory activity expanded at the slowest pace in five months in July, a development that threatens to stall the country’s economic recovery from the coronavirus pandemic. 

The au Jibun Bank Flash Japan Manufacturing Purchasing Managers’ Index (PMI) dropped to a seasonally adjusted 52.2 in July from a final 52.4 last month, indicating a slower but steady improvement in operating conditions.

Economist Usamah Bhatti of IHS Markit said output and new orders growth slipped to six-month lows after a surge in COVID-19 cases and delays in raw material procurement.

The services sector continued to struggle, with activity declining at its highest rate in five months and for the 18th month in a row. This reflected a faster decline of overall private sector activity compared with last month.

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