Japan's factory activity contracted in June after expanding for the first time in 7 months in May, a private survey showed on Monday, dragged down by weak orders for cyclical goods amid a global economic slowdown.
The final au Jibun Bank Japan manufacturing purchasing managers' index was at 49.8, returning below the 50.0 threshold that separates growth from shrinkage, after May's 50.6 reading.
Output and new orders, the subindexes that constitute the majority of the headline index, fell back to contraction, ending a brief"Weak demand for goods, especially semiconductors, alongside labour suitability issues weighed on sales and output volumes," said Usamah Bhatti at S&P Global Market Intelligence, which compiled the survey.
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