IHREF - Japan Stuck In Downturn As Manufacturing Hit By Trade Woes
Flash PMI data showed business activity in Japan's private sector contracted sharply again in June despite an easing of emergency measures taken to limit the COVID-19 pandemic. While the downturn slowed further from April's record decline, the Japanese economy continued to struggle amid the collapse of global demand for trade and tourism, adding to fears that the slump may extend into the third quarter. Deflationary pressures meanwhile persisted as a result of further deterioration of demand in the economy.
Signs of a recovery were elusive as business sentiment about the year-ahead outlook remained pessimistic on