Japan's manufacturing activity deteriorated for the first time in eleven months in March, as output and new orders fell at sharper rates, the latest survey data from Markit Economics showed Friday.
The Markit/ Nikkei Manufacturing Purchasing Managers' Index, or PMI, fell to 49.1 in March, in line with the preliminary data, from 50.1 in February.
A score below 50 indicates contraction, while any score above 50 suggests expansion in the sector. The index remained below 50 neutral mark for the first time since April 2015.
New orders fell at the fastest pace in nearly two years in March. Subsequently, production contracted for the first time since April 2015.
On the price front, input prices decreased in March, dragged down by lower raw material costs. This forced firms to cut their selling prices during the month.
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