TOKYO : Japan's factory activity shrank for a third straight month in August amid higher oil prices and uncertainty over the global economic outlook, although the pace of decline slowed, a private sector survey showed on Wednesday.The au Jibun Bank flash Japan manufacturing purchasing managers' index (PMI
TOKYO : Japan's factory activity shrank for a third straight month in August amid higher oil prices and uncertainty over the global economic outlook, although the pace of decline slowed, a private sector survey showed on Wednesday.
Output and new orders in the manufacturing sector shrank for a third straight month in August but at a slower pace than the previous month. Employment was unchanged, snapping 28 straight months of expansion. "Another area of common ground across the two monitored sectors was with regards to business confidence, which waned across the board amid concerns around longer-term economic conditions."
The au Jibun Bank flash services PMI expanded to a seasonally adjusted 54.3 in August, the highest in three months. The expansion was buoyed by solid gains in new orders, and new business from abroad also grew.
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