November 01, 2024 at 12:30AM
Manufacturing PMI from Japan, final for October 2024:
preliminary was 49.0
prior 49.7
From the report, not very encouraging for the Japanese economy:
stronger deterioration in
the health of the manufacturing sector in Japan
output
fell only marginally but at the strongest rate since April
new orders contracted at the steepest pace for three
months
Firms often mentioned weakness in domestic and
global demand had weighed on sales and output, notably
in semiconductors and autos.
goods producers signalling a renewed fall in
purchasing activity
broad stagnation in employment
levels
firms increasingly
worked through backlogs of work, a sign that new order
inflows are not enough to sustain production
confidence was little-changed from the near-two year low
seen in September
firms highlighted concern regarding
the timing of the recovery from the current economic
malaise
This article was written by Eamonn Sheridan at www.forexlive.com.
