Japanese manufacturing activity contracted at a slower pace in March than the pr...
TOKYO - Japanese manufacturing activity contracted at a slower pace in March than the previous month, but output fell at the sharpest rate in nearly three years, a private business survey showed on Monday, reflecting weak demand at home and abroad.
The final Markit/Nikkei Japan Manufacturing Purchasing Managers’ Index was a seasonally adjusted 49.2, up a tad from February’s final 48.9, which was also the flash reading for March. “The likelihood of the negative trend in output being stymied any time soon appears slim, with demand for goods from both domestic and international sources waning further,” he said.
New orders from both domestic and international clients fell at the fastest pace since June 2016, the final survey showed.
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