Japan PMI Manufacturing edged up to 47.3 in September, from August’s 47.2. PMI Services also rose to 45.6, up from 45.0. PMI Composite rose to 45.5, up from 45.2.

Bernard Aw, Principal Economist at IHS Markit, said: “Flash PMI survey data indicated a further decline in Japanese private sector output during September, setting the scene for further economic weakness in the third quarter… That said, the picture of the economy remained much improved when compared to the height of the pandemic during the second quarter.

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“The survey also revealed some positive signs. Firstly, employment moved closer to stabilisation, with only a marginal drop in workforce numbers that was the weakest in the current sequence of job shedding. Secondly, business sentiment improved to the strongest since the start of the year, with manufacturing firms particularly optimistic about the year-ahead outlook.”

Full release here.

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