Factory activity in Japan expanded at a slower pace in May as growth in output and new orders eased, and though external demand remains strong worries are growing that domestic coronavirus emergency curbs could derail the economic recovery.
Japan extended a state of emergency in Tokyo and other major areas to June 20 last week, as the COVID-19 pandemic shows no signs of abating less than two months before the Summer Olympics open.The world's third-largest economy shrank at a faster-than-expected pace in the first quarter, mainly due to drops in private consumption and capital expenditure.
Manufacturing activity has now stayed above the 50.0 threshold that separates contraction from expansion for the fourth straight month. Price pressures, a major focus around the world, also intensified with the PMI showing input prices rising at the fastest pace in 31 months.
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