Japan's manufacturing activity contracted at the fastest pace in 30 months in February, a business survey showed on Tuesday, in a worrying sign for the world's third-largest economy, which is facing weakening demand and struggling to tame cost pressures.
By contrast, service-sector activity grew for a six month with further relaxation of domestic COVID-19 countermeasures. The government last month said it wouldThe au Jibun Bank flash services PMI rose to an eight-month-high of 53.6 seasonally adjusted in February from the previous month's 52.3 final.
But service firms' input costs rose at the fastest pace in eight months, while the inflation for prices they charged to customers only advanced to a two-month-high, indicating thinner profits.
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