Japan's manufacturing and exports take a negative turn
Japanese manufacturing activity turned negative for the month of May, according to a private survey as trade tensions weigh down on exports.
The latest Nikkei-Markit PMI manufacturing purchasing managers’ index slipped to 49.8 during the month, slightly higher than the predicted 49.6 however lower than the 50.2 figure notched in the month of April.
Manufacturing output, therefore, has fallen for the fifth consecutive month and export orders have followed suit for the sixth month in a row.
Businesses in Japan have also taken a negative turn regarding their respective outlook for the upcoming 12 months, the first in six and a half years as an expected rise in sales taxes is expected this year.
Source: Smart Trend Team
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