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Japan's factory activity falls on soft orders - PMI
Japan's factory activity contracted at a faster pace in July, a business survey showed on Tuesday, taking a hit from soft orders amid weakening global economic conditions. The final au Jibun Bank Japan manufacturing purchasing managers' index (PMI) fell to 49.6 in July, slightly higher than flash 49.4 but down from 49.8 in June. The decline was largely due to a deterioration in new orders, given weak customer demand from domestic and overseas markets, said Usamah Bhatti at S&P Global Market Intelligence, which compiled the survey. Output, another major component of the headline index, kept shrinking albeit at a ... (full story)