Jibun / S&P Global October PMIs for Japan:
Services 51.6
- preliminary was 51.1 & 53.8 prior
Composite 50.5
- preliminary was 49.9 vs prior 52.1
Commentary from the report (in brief):
- recent trends suggest that growth is on the wane
- Rates of expansion in activity and new orders were the weakest since the turn of the year in October and softer business confidence suggests that the slowdown could continue as 2023 draws to a close
- the inability of the services economy to keep doing the heavy lifting that it was earlier in the year means that the sustained weakness in manufacturing is bringing wider growth to an end
- new orders stagnated in October, ending an eight-month sequence of expansion
PMI
-
We had the manufacturing last week:
- Manufacturing 48.5 vs. 48.5 prior quickest fall in 8 months
