Japan's coronavirus shutdowns pummel service, factory sectors - PMIs [Reuters]
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Source: Reuters
Japan's coronavirus shutdowns pummel service, factory sectors - PMIs TOKYO, April 23 (Reuters) - Japan’s services sector shrank at a record pace in April, while factories also fell quiet across the country due to the widening fallout from the coronavirus pandemic as an economic contraction deepens. The au Jibun Bank Flash Japan Manufacturing Purchasing Managers’ Index (PMI), released on Thursday, slumped to a seasonally adjusted 43.7 from a final 44.8 in March, its lowest since April 2009. The au Jibun Bank Flash Japan Services PMI index plunged to 22.8 on a seasonally adjusted basis, marking the lowest since the start of the services sector survey in September 2007. Services sector activity compared with a final reading of 33.8 in the previous month. Large parts of the world’s third-largest economy have come to a standstill after the government announced a month-long state of emergency to fight the widening virus pandemic. “The current state of emergency will stay in place until 6 Ma
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