TOKYO : Japan's manufacturing activity grew at its weakest rate in nearly a year in August, as businesses took a hit from worsening conditions in the global economy and declining demand from China and South Korea.
The reading remained above the 50-mark that separates contraction from expansion, but was the weakest growth rate since September 2021. It was higher than a 51.0 flash reading. "The absence of new orders amid dampening client confidence lifted capacity pressure on manufacturers," he added.
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