The slowdown in Japanese manufacturing activity might be cyclical rather than a more permanent, structural one, said Hiro Shirakawa, Credit Suisse's chief economist for Japan.
Two straight months of contractions in Japan's manufacturing activity have raised concerns of an impending recession in the Asian economic powerhouse.
Japanese manufacturing activity contracted in March at the same pace as in February and output shrank the most in almost three years, a private business survey showed last week. He added that even though"U.S.-China trade dispute could come to an end possibly some agreement, but still our biggest focus is whether or not the global demand for mobile phones, PCs is really picking up."
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