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Strongest rise in Japanese manufacturing output in over 12 years, but service sector growth slows
The latest S&P Global Flash PMI® data for Japan indicated that a slower rise in service sector activity offset a rebound in manufacturing production growth in April. As a result, total Japanese private sector activity expanded at the softest pace in four months. Price pressures meanwhile intensified, most notably across the manufacturing industry, with firms often linking this to the impact of the war in the Middle East and strained supply chains. This in turn drove the steepest rise in composite selling prices on record. At the same time, uncertainty around the impact of the war in the Middle East led to a drop in ... (full story)