Japan PMI Manufacturing ticked down from 50.8 to 50.7 in October, weakest in 21 months. PMI Manufacturing Output improved slightly from 48.3 to 48.7. PMI Services rose from 52.2 to 53.0. PMI Composite also rose from 51.0 to 51.7.
Laura Denman, Economist at S&P Global Market Intelligence, said: “Latest flash PMI data has pointed to a further improvement in Japan’s private sector economy in October… The manufacturing sector, however, continued to struggle in the face of weak demand conditions and severe cost pressures… With inflationary pressures remaining elevated across the private sector, business confidence dipped to a six-month low.”
