Japan’s manufacturing activity shrank at the fastest pace in more than two years in December on soft demand and persistent cost pressures, a corporate survey showed. | Reuters
“Manufacturing firms continued to struggle in the face of subdued demand conditions and severe inflationary pressures,” said economist Laura Denman at S&P Global Market Intelligence, which compiles the survey.
Meanwhile, service-sector activity grew on a tourism reopening, with the sub-index gauging its demand from overseas rising to the highest since September 2019. With subdued manufacturers and robust services, the au Jibun Bank Flash Japan composite PMI stood on the break-even line of 50.0, up from a final 48.9 last month.
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