DXJS - Japan Shows Further Divergence From Other Developed Economies As Virus Disruptions Continue

• Although both services and manufacturing output indices declined, manufacturing managed to sustain moderate growth while services activity slipped further into contraction.
• Service sector firms saw demand shrink for an eighteenth consecutive month and were pushed to shedding jobs, according to flash data, after having continuously expanded their workforce for five straight months.
• Zooming into the effects of the Delta variant spread, one would intuitively expect services to be relatively more affected than manufacturing, and that had certainly been the case in July.

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