Japan manufacturing growth slows to 7-month low in October: PMI
by@Reuters
Summary
Japan's manufacturing sector experienced a slowdown in growth, reaching a seven-month low as indicated by the flash S&P Global Japan Manufacturing Purchasing Managers' Index (PMI), which fell to 53.3 in October from 54.1 in September. New orders for goods producers rose at the weakest pace since March, while the services sector saw an uptick, with the S&P Global Japan Services PMI rising to 52.0, reflecting stronger business activity and faster sales growth. This overall economic trend suggests a mixed recovery pattern within the Japanese economy, with manufacturing growth lagging behind services.
Analysis
S&P Global: S&P Global is a financial information and analytics company that publishes economic indicators including the Purchasing Managers' Index surveys. It releases monthly flash PMI readings that track expansion or contraction in manufacturing, services, and composite activity across major economies. In this report, S&P Global issued the October flash Japan Manufacturing PMI showing slower growth and provided the survey data underlying the analysis. Usamah Bhatti: Usamah Bhatti serves as an economist at S&P Global Market Intelligence specializing in macroeconomic indicators. He contributed commentary interpreting the October PMI results for Japan. His remarks noted that private-sector activity growth held steady from the prior month yet remained below the year-to-date average. Services Sector: Service activity in Japan increased in October with stronger business activity and faster sales growth. Manufacturing Activity: Goods producers in Japan saw new orders rise at the weakest pace since March.
Categories
macro