Japan's manufacturing expansion slowed to a seven-month low in October as output
and new orders growth eased, S&P Global's preliminary PMI showed. The
manufacturing PMI fell to 53.3 in October from 54.1 in September; manufacturers'
new orders and output growth were the weakest since March, and private-sector
new export growth slowed to a four-month low. Manufacturing employment rose
modestly, while purchasing increased and inventories rose at the fastest pace in
nearly four years. S&P Global Japan services PMI business activity index rose to
52.0 from 51.3, with activity and sales gains accelerating. S&P Global Market
Intelligence economist Usama Bhatty said: "The preliminary October PMIs show
overall Japanese business activity growth was flat month-on-month and remained
below the year-to-date average."
