Japan - Jibun Bank/Markit Manufacturing PMI (final) for October comes in at 53.2
From the Markit report:
Commenting on the latest survey results, Usamah Bhatti, Economist at IHS Markit, said:
- "October PMI data pointed to a stronger expansion in the Japanese manufacturing sector at the start of the fourth quarter. The rate of growth quickened from September amid renewed expansions in both production and new orders. Overall, the headline Manufacturing PMI was at its highest reading since April and the second-highest in the year to date.
- "Manufacturers continued to note concern regarding significant supply chain disruption which dampened output and demand in the latest survey period. Moreover, material shortages and delivery delays induced sharp rises in input prices, as average cost burdens rose at the sharpest pace since August 2008. This contributed to higher charges for clients in attempts to cover margins, with factory gate inflation quickening to a 13-year high.
- "That said, Japanese manufacturers commented that the degree of optimism regarding the outlook strengthened in October. Confidence about the outlook reached the highest level since the series began in July 2012, as hopes that the end of the pandemic would stimulate a broad market recovery gathered pace. This is broadly in line with the IHS Markit forecast for industrial production to grow 7.1% this year and 4.3% in 2022."
Bolding above is mine. Familiar themes on the supply chain shortages and high input prices, but encouraging viewpoints on recovery ahead.
Also, South Korea manufacturing PMI for October 50.2 prior 52.4)
- Taiwan 55.2 (prior 54.7)
