Japan's factory activity declined in March, marking the sharpest drop since March of last year, S&P Global's report released on Monday showed. The au Jibun Bank Flash Manufacturing Output Index fell to 46.5 from 48.4 in February, signaling weaker production.
The broader Flash Composite Output Index also slipped to 48.5 from 52.0, indicating a contraction in the activity of the entire private sector, with the service sector also struggling.
"The March Flash PMI data indicated that Japanese firms had a disappointing end to Q1 ... while manufacturing output declined at the quickest pace for a year," said Annabel Fiddes, Economics Associate Director at S&P Global Market Intelligence.
