Japan preliminary PMIs, manufacturing slipping deeper into contraction, services improving a little.
Manufacturing PMI 49.6
- prior 49.8
Services 53.9
- prior 53.7
Composite 52.5
- prior 52.9
Snippet from the report commentary, price pressures will be welcomed by the Bank of Japan:
- expansion in business activity remained services-led in September, where the rate of increase strengthened to a five-month high
- Manufacturing output meanwhile fell back into contraction territory for the second time in three months
- the rate of input cost inflation eased in September to reach the lowest for six months
- manufacturing and services firms noted softer cost pressures, though average operating expenses remained historically elevated overall
- the rate of output price inflation ticked up slightly from August
