Japan's July factory activity extends declines into third quarter as demand sags

"The Japanese economy continued to struggle at the start of the third quarter," said Joe Hayes, economist at IHS Markit, which compiles the survey

TOKYO: Japan's factory activity contracted for a 15th straight month in July, indicating the economic pain from the coronavirus crisis extended into the third quarter of the year as hopes for a quick global recovery fade.

The au Jibun Bank Flash Japan Manufacturing Purchasing Managers' Index (PMI) rose to a seasonally adjusted 42.6 from a final 40.1 in June, as broader conditions remained fragile though the pace of decline was the slowest in four months.