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Japan’s May PMI hits 38.4, a new low since Mar 2009

Japan’s Purchasing Managers’ Index (PMI) for the country’s manufacturing industry fell to 38.4 for May, a new low since March 2009 or having declined for the three month mainly due to the impact of the COVID-19 on the series of industrial activities, according to the release from au Jibun Bank Corporation on June 1.
The PMI fell 3.5 basis points on month, or the sharpest on-month decline since March 2009, as the pandemic dampened the workload, reduced the capacity utilization and seriously disrupted raw material supplies, according to the release, and approximately 55% of companies within the PMI survey posted lower output either due


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