Japan Factory Activity Shrinks for 10th Month but Contraction Slows on Recovery Hopes

• Japan's factory activity contracted for 10th straight month in March, but at slower pace • Contractions in output and orders moderated compared to February • Global demand a continued headwind; new export orders fell at fastest rate since Feb 2023 • Input inflation slowed to lowest since Feb 2021, though costs still pressing • Business optimism remained solid on hopes for domestic and global recovery