Japan Manufacturing PMI Slips To 53.3 In October - S&P Global
(RTTNews) - The manufacturing sector in Japan continued to expand in October, albeit at a slower pace, the latest survey from S&P Global revealed on Monday with a Performance of Manufacturing Index score of 53.3.
That was down from 54.1 in September although it remains above the boom-or-bust line of 50 that separates expansion from contraction.
As has been the case in every month since the start of the year, Japanese manufacturers recorded an increase in new orders in October. Qualitative evidence gathered by the survey indicated growing customer demand, particularly in relation to semiconductors and related markets. The latest increase in sales was driven in part by a further increase in new work from abroad.
However, whilst remaining relatively solid by historical standards, the rates of growth in both total new orders and those from overseas were the weakest seen since March. It was a similar picture from production, which was scaled up for the tenth month in a row in October in line with rising intakes of new work, but showed the softest pace of expansion since the end of the first quarter.
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