TOKYO: Japan’s factory activity came within striking distance of stabilisation in December, a private-sector survey showed yesterday, even as a resurgence in coronavirus cases is taking a toll on economies globally, particularly in Europe.
The slower decline in manufacturing will likely boost policymakers’ confidence that Japan’s export-oriented economy is able to pull through the crisis even as the services sector takes a heavy hit from a worsening flare-up in Covid-19 infections. The Manufacturing Purchasing Managers’ Index rose to a seasonally adjusted 49.7 from 49.0 in November. — Reuters
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