US recession fears darken outlook for Japan, global factories

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US recession fears darken outlook for Japan, global factories

Quick Summary

TOKYO : Japan's factory activity growth slowed to a four-month low in June as China's COVID-19 curbs disrupted supply chains, while many other economies in Asia were also facing headwinds amid growing risks to the outlook from a potential U.S.recession.

The au Jibun Bank flash Japan Manufacturing PMI slipped to 52.7 in June from 53.3 in May, marking the slowest expansion since February, the survey showed on Thursday.

"Stagflation, which is characterised by persistent high inflation, high unemployment and weak demand, has become the dominant risk theme since late 1Q22 and a plausible potential risk scenario," it said in a report released this week.

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Article Details

Category: Economy

Topics: Risk Covid-19 China Thursday Outlook Mediacorp Economies Inflation Recession June Japan

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2022-06-23, 11:42:52

News Timezone: GMT +8:00

News Source URL:

Language: English

Reading Time: 4 minutes read

Article Length: 639 words

Coverage Area: Singapore

Availability: Desktop Web, Mobile Web

News ID: 5188

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