Japan business mood worsens on hit from China's lockdown, rising costs

TOKYO :The mood among Japan's big manufacturers' soured for a second straight quarter in the three months to June, a central bank survey showed on Friday, hit by rising input costs and supply disruptions caused by China's strict COVID-19 lockdowns.

Analysts, however, warn of a murky outlook as growing fears of a U.S. economic slowdown and steady price hikes for daily necessities weigh on exports and domestic consumption. In a sign of mounting inflationary pressure, separate data showed core consumer prices in Japan's capital Tokyo - a leading indicator of nationwide trends - rose 2.1 per cent in June from a year earlier to mark the fastest pace of increase in seven years.

In a sign more companies were able to pass on rising costs to consumers, an index measuring output prices hit the highest level since 1980 for big manufacturers and the highest since 1990 for big non-manufacturers, the tankan showed. Policymakers are hoping that consumption will rebound from the pandemic's drag and offset the weakness in manufacturing activity. But the yen's recent plunge is pushing up prices of imported fuel and food, adding pain for households.

Colombia Últimas Noticias, Colombia Titulares

Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.

China car retail sales up 28% in June 20-26 - China auto industry bodyBEIJING : Retail car sales in China jumped 28 per cent during June 20 to June 26 compared with the same period in May, data from the China Passenger Car Association (CPCA) showed.Sales of passenger vehicles in that period rose to 487,000 units, up 33 per cent from a year earlier, the association said on W
Fuente: ChannelNewsAsia - 🏆 6. / 66 Leer más »

Japan business mood worsens for 2nd quarter amid rising costsTOKYO: Japanese big manufacturers' business confidence soured for the second straight quarter in the three months to June, a central bank survey showed on Friday (Jul 1), hit by rising input costs and supply disruptions caused by China's strict COVID-19 lockdowns. But big non-manufacturers' mood improved i
Fuente: ChannelNewsAsia - 🏆 6. / 66 Leer más »