An employee checks gaskets after processing them in an automatic press machine at the Hamamatsu Gasket Co. factory in Hamamatsu, Shizuoka Prefecture, Japan, on Wednesday, Oct. 6, 2021.
Japan's February factory activity shrank at the fastest pace in more than three years on the back of weakening demand.
The au Jibun Bank's flash Japan manufacturing purchasing managers' index fell to to 47.2 in February, compared with January's 48.0 reading, indicating continued contraction in private sector business activity.
The reading signals a ninth consecutive deterioration in business activity and the strongest contraction recorded since August 2020, according to au Jibun Bank.
Operating conditions in the country's manufacturing sector continued to deteriorate in February.
Organizations:
Japan's, Jibun Bank
Locations:
Hamamatsu, Shizuoka Prefecture, Japan