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Japan's Aug factory activity growth slows on resurgence of COVID-19 - PMI

Added 08-31-21 09:04:02pm EST - “Japan's factory activity expanded at a slower rate in August as a resurgence of coronavirus cases in Asia disrupted supply chains across the region, sinking overseas orders into contraction for the first time in seven months. The…” - News.yahoo.com

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Posted By TheNewsCommenter: From News.yahoo.com: “Japan's Aug factory activity growth slows on resurgence of COVID-19 - PMI”. Below is an excerpt from the article.

TOKYO (Reuters) - Japan's factory activity expanded at a slower rate in August as a resurgence of coronavirus cases in Asia disrupted supply chains across the region, sinking overseas orders into contraction for the first time in seven months.

Manufacturers withstood the pandemic's hit in part thanks to their positive outlook for the coming twelve months, even as the highly infectious COVID-19 Delta variant is pushing countries in Asia-Pacific back into lockdown mode.

The final au Jibun Bank Japan Manufacturing Purchasing Managers' Index (PMI) in August eased to 52.7 on a seasonally adjusted basis from 53.0 in the previous month, and up slightly from a 52.4 flash reading.

"A sharp rise in COVID-19 cases in South East Asia was among the key factors listed by Japanese manufacturers for the easing in demand," said Usamah Bhatti, economist at IHS Markit, which compiled the survey.

"Severe supply chain disruption partly caused by pandemic restrictions and raw material shortages remained a dampener on production and orders."

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