Japan PMI Manufacturing rose slightly to 48.0 in October, up from 47.7, but missed expectation of 48.4. Markit noted that was the “slowest deterioration in the health of the manufacturing sector since January”. PMI Services dropped to 46.6, down from September’s 46.9. PMI Composite rose 0.1 to 46.7.
Bernade Aw, Principal Economist at IHS Markit, said: “recovery is slow-going and could remain so in the coming months as a global resurgence of COVID-19 cases could weigh on Japanese economic activity, particularly in the external facing sectors”.
