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Manufactory output improves amid an easing of critical supply bottlenecks. Japan’s factory activity grew in November at the fastest pace in nearly four years, as manufacturers’ output and order books improved with an easing of critical supply bottlenecks. Businesses, however, said cost pressures remained an issue as materials shortages and delivery delays caused input prices to surge the most in 13 years. The final au Jibun Bank Japan Manufacturing Purchasing Managers’ Index (PMI) in November rose to 54.5 on a seasonally adjusted basis, marking its fastest pace of expansion since January 2018. The figure, which compared with the prior month’s 53.2 and a 54.2 flash reading, also marked the 10th straight month of expansion in manufacturing activity. “The Japanese manufacturing sector continued to see an improvement in operating conditions midway through the fourth quarter,” said Usamah Bhatti, an economist at IHS Markit, which compiles the survey. Bhatti said manufacturers reported a sus