Japan PMI Manufacturing rose to 53.0 in October, up from September’s 51.5, above expectation of 51.6. PMI Services rose to 50.7, up from 47.8. PMI Composite rose to 50.7, up from 47.9.
Usamah Bhatti, Economist at IHS Markit, said: “Activity at Japanese private sector businesses returned to expansion territory at the start of the fourth quarter of 2021… Panel members commonly associated the slight recovery to a reduction in COVID-19 cases and looser pandemic restrictions.
“Private sector businesses also noted an increase in aggregate new business for the first time since April, assisted by a quicker rise in export orders. That said, firms continued to highlight sustained supply chain pressures and material shortages. As a result, input prices rose at the fastest rate in over 13 years. This contributed to the sharpest rise in output charges since July 2018.”
