The manufacturing sector in Japan registered a horrific month after the recent earthquake and weak growth, reflected in a series of worse PMI data.
Nikkei-Markit index dropped to 48 this month from 49.1 in March and reached a new record low. This is the worst result since January 2013, according to Markit.
Two strong earthquakes struck southern island of Kyushu earlier this month, breaking operation of one of the Japanese manufacturing centers Heartlands.
An additional complication for the sector is that exporters struggle against the rising yen.
(source Financial Times)
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