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7/26, 2:32 AM (Source: TeleTrader)
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Japan's factory activity sees faster reduction in July

The Japanese Jibun Bank Flash Manufacturing PMI Index disappointed expectations in July, falling by 0.2 points to land at 52.2, compared to last month's results, IHS Markit's according to a preliminary report released on Monday.

The headline figure landing above the neutral 50 marks an upturn in Japan's manufacturing activity, despite the pace of growth softening from the previous survey period.

"Flash PMI data indicated that Japanese private sector businesses saw a faster reduction in activity during July," said IHS Markit's Economist Usamah Bhatti. "Output fell at the quickest pace for six months, while the contraction in new business inflows was the fastest since February. Survey members attributed the deterioration in business conditions to persistent rises in COVID-19 cases and state of emergency measures which dampened activity and demand," Bhatti added.

Breaking the News / NL