Japan's August factory activity shrinks at slowest pace in six months: PMI

TOKYO - Japan's factory activity contracted at the slowest pace in six months in August, reducing some of the heat on policymakers pressured to take more radical steps to prevent the economy from sliding deeper into recession.

Tuesday's final au Jibun Bank Manufacturing Purchasing Managers' Index rose to a seasonally adjusted 47.2 in August from 45.2 in July. It marked the smallest contraction since February, and also eclipsed a preliminary reading of 46.6. But the pandemic continued to limit the performance of the sector as a whole, with firms feeling pressured to cut their prices due to relatively weak demand.

Many analysts expect only a modest third-quarter rebound, while a firmer recovery is expected to take time as a resurgence in global infections and uncertainty over the outlook for US-China trade threaten overseas demand.

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Japan's August factory activity shrinks at slowest pace in 6 months: PMI[TOKYO] Japan's factory activity contracted at the slowest pace in six months in August, reducing some of the heat on policymakers pressured to take more radical steps to prevent the economy from sliding deeper into recession. Read more at The Business Times.
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