{"id":129794,"date":"2021-06-23T01:29:24","date_gmt":"2021-06-23T01:29:24","guid":{"rendered":"https:\/\/precoinnews.com\/?p=129794"},"modified":"2021-06-23T01:29:24","modified_gmt":"2021-06-23T01:29:24","slug":"japans-june-factory-activity-expands-at-slowest-pace-in-4-months","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/markets\/japans-june-factory-activity-expands-at-slowest-pace-in-4-months\/","title":{"rendered":"Japan's June factory activity expands at slowest pace in 4 months"},"content":{"rendered":"

TOKYO (Reuters) – Japan\u2019s factory activity expanded at the slowest pace in four months in June, in a sign momentum in the world\u2019s third-largest economy was levelling out before Tokyo is set to host the Olympic Games next month.<\/p>

FILE PHOTO: Smoke rises from a factory during the sunset at Keihin industrial zone in Kawasaki, Japan, January 16, 2017. REUTERS\/Toru Hanai<\/figcaption>

Activity for the private sector as a whole contracted for a second straight month due to the weaker reading for manufacturing and continued shrinking in the services sector, clouding the outlook for second-quarter economic growth in the country.<\/p>\n

The au Jibun Bank Flash Japan Manufacturing Purchasing Managers\u2019 Index (PMI) fell to a seasonally adjusted 51.5 in June from a final 53.0 in the previous month, largely due to a sharp decline in output.<\/p>\n

Output shrank at the quickest rate since last November, the PMI survey showed, underscoring the pressure Japanese firms were facing from restrictions put in place in response to the health crisis.<\/p>\n

\u201cFlash PMI data signalled a quicker deterioration in business activity,\u201d said Usamah Bhatti, economist at IHS Markit, which compiles the survey.<\/p>\n

Manufacturers faced disruptions to operating conditions from ongoing COVID-19 restrictions and supply chain pressures, according to Bhatti.<\/p>\n

Overall orders and export orders expanded, but at a weaker pace than in the previous month, the survey showed.<\/p>\n

But manufacturers\u2019 optimism for the year ahead stayed largely intact on hopes that Japan\u2019s delayed vaccine roll-out would lead to an easing of coronavirus restrictions and fuel an economic recovery.<\/p>\n

The survey also highlighted severe conditions in the services sector, which saw activity contract for the 17th straight month, though at a slightly slower pace.<\/p>\n

The au Jibun Bank Flash Services PMI index rose to a seasonally adjusted 47.2 from the previous month\u2019s final of 46.5.<\/p>\n

The au Jibun Bank Flash Japan Composite PMI, which is calculated using both manufacturing and services, fell to 47.8 from May\u2019s final of 48.8.<\/p>\n

Source: Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

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