TOKYO -- Japan's manufacturing activity barely expanded in January and eased to a 29-month low amid a sharp deterioration in international demand, a survey showed Friday.
The Nikkei Japan Manufacturing Purchasing Managers' Index, or PMI, dropped to 50.3 from 52.6 in December, marking the lowest level since August 2016. Readings above 50 indicate an expansion, while those below 50 indicate a contraction.
