Japan's factories cut output at the fastest rate in two years in May, largely due to adverse effects from China's coronavirus restrictions, such as in Shanghai.
TOKYO: Confidence at Japanese manufacturers in July was subdued, a Reuters poll showed, reflecting pressure from a problematic chip shortage, China's heavy pandemic response and a weak yen that is making imported materials increasingly expensive.
The Reuters Tankan - which closely tracks the Bank of Japan's quarterly tankan survey - showed both manufacturers' and service-sector morale only improving modestly over the next three months.
