Japanese factory activity fell in December at the sharpest pace in 26 months, a business survey showed on Wednesday, with companies seeing further declines amid a global economic slowdown.
The au Jibun Bank Japan manufacturing purchasing managers' index edged down to a seasonally adjusted 48.9 in December from November's final 49.0.of 48.8, the reading was the weakest since October 2020 and marked the second month below the 50-line that separates contraction from expansion.
Output and new orders extended their contraction for a sixth month in December, yet at slower paces than last month, the survey's subindexes showed. Manufacturers were expecting a further downturn in their business conditions, with the subindex of future output hitting the lowest since May, when China's COVID-19 lockdowns disrupted the supply chains for Japanese companies.
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