Japan PMI composite dropped to 27.8, harsh economic effects likely to drag out further

<p>Japan PMI Manufacturing dropped from 44.8 to 43.7 in April, biggest contraction in 2009. PMI Services dropped from 33.8 to 22.8, worst contraction since survey began in 2007. PMI Composite dropped from 36.2 to 27.8. Joe Hayes, Economist at IHS Markit, said: “The crippling economic impact from global coronavirus pandemic intensified in April… The decline […]</p>
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