Japan's factory activity was hit by its sharpest contraction in nearly four...
TOKYO - Japan’s factory activity was hit by its sharpest contraction in nearly four years in February, raising a red flag over manufacturing in the world’s third-largest economy as the impact from the coronavirus outbreak spreads.
The au Jibun Bank Japan Manufacturing Purchasing Managers’ Index slipped to a seasonally-adjusted 47.8 from a final 48.8 in the previous month. The February reading was its lowest since May 2016. “Weakness was driven by the demand-side in a broad-based fashion. Consumer, intermediate and capital goods producers recorded faster declines in demand and overall order books fell at the sharpest rate in over seven years.”
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