Japan’s factory activity shrinks at a slower pace

Japan manufacturing purchasing managers’ index rose to 49.6 in April from 48.2 in March. — Reuters

TOKYO: Japan’s factory activity shrank at a slower pace in April as declines in output and new orders eased, a private-sector survey showed yesterday.

Inflationary pressure continued but firms found market demand was strong enough to allow them to raise output costs, the survey found.