Japan factory PMI stays in contraction as Trump tariffs bite
Japan's manufacturing Purchasing Managers' Index (PMI) rose to 49.9 in August from 48.9 in July but stayed below 50 mark, signalling contraction for a second month. Export demand slid for fifth straight month amid US President Donald Trump's tariffs, with exports down 2.6% YoY in July. Rising input costs, weak pricing power squeezed margins, though services growth lifted the composite PMI to 51.9.