Japan's factory activity contracted at the fastest pace in about a decade in March, as the world's third-largest economy struggled with a severe downturn in overseas and domestic demand due to the coronavirus crisis.
TOKYO - Japan’s factory activity contracted at the fastest pace in about a decade in March, as the world’s third-largest economy struggled with a severe downturn in overseas and domestic demand due to the coronavirus crisis.
The final au Jibun Bank Japan Manufacturing Purchasing Managers’ Index fell to a seasonally adjusted 44.8 from a final 47.8 in February, its lowest since April 2009. The PMI survey showed output and new orders fell to levels not seen since April 2011 - the month after an earthquake and tsunami ravaged Japan - with some companies reporting outright production halts.
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