The Japanese manufacturing sector registered a renewed downturn in operating conditions at the end of the second quarter of 2023, according to June data. The headline figure was pushed back into contraction territory following declines in both output and new orders. Despite the two largest components of the headline figure falling, there were some notable improvements across the Japanese manufacturing sector. First, average lead times shortened for the second successive month, and to the greatest extent in over seven years as firms signalled improvements amid weaker demand for materials. Improved supply chains and ... (full story)