Markit/JMMA Manufacturing PMI for October (final)
- ‘flash’ (i.e. the preliminary) was 52.8
- prior (September) was 51.7
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From the release:
Key points:
- Faster new business expansion pushes PMI to seven-month high
- New export contracts rise at fastest pace in 2014 so far
- Weaker rise in output as finished goods stocks continue to build up
Trevor Balchin, Senior Economist at Markit:
- “The weaker yen appeared to provide a boost to Japanese manufacturers in October, who reported the strongest rise in new export business in 2014 so far. This helped push total new order growth to the highest since March. Output expansion failed to accelerate, however, which may be linked to a further build-up of unsold stock in the sector. The weakening currency was also cited as a factor driving up average input prices in October.”
