3/22, 1:47 AM (Source: TeleTrader)
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Japan's manufacturing activity down in March

Manufacturing activity in Japan displayed a downturn, according to an IHS Markit release on Friday. The Nikkei Flash Japan Manufacturing Purchasing Managers’ Index was unchanged in March, at 48.9. The report indicated manufacturing output fell at the fastest pace in almost three years as new orders decreased at a faster rate than in February.

"Further struggles for Japanese manufacturers were apparent at the end of Q1, with latest flash PMI data showing a sustained downturn," said Joe Hayes, economist at IHS Markit. "Slack demand from domestic and international markets prompted the sharpest cutback in output volumes for almost three years. With input purchasing falling, firms appear to be anticipating further troubles in the short-term. Indeed, concern of weaker growth in China and prolonged global trade frictions kept business confidence well below its historical average in March."

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