TOKYO—Japan’s factory activity growth hit a 20-month low in September, as firms struggled with a global slowdown and pressure from high energy and raw material prices that was exacerbated by a weak yen.
The au Jibun Bank Flash Japan Manufacturing Purchasing Managers’ Index (PMI) slipped to a seasonally adjusted 51.0 in September from the prior month’s final of 51.5.
The headline figure marked the slowest expansion since January 2021, although it stayed above the 50-mark that separates contraction from expansion.
It was pulled down by struggling output and overall new orders, both of which contracted for the third consecutive month. New orders shrank at the fastest rate in two years….