“Demand was reported to be decrease from key export shoppers primarily based in China, Europe and North America, and from necessary sectors like electronics,” stated Paul Smith, Economics Director at S&P International Market Intelligence.
“Corporations are assured that shopper destocking will quickly finish and that new product launches will assist to assist an upturn in manufacturing throughout 2024,” Smith stated.
Domestically, Japan was rocked by an earthquake that has claimed no less than 65 lives and a collision at Tokyo’s Haneda airport involving Japan Airways.