S&P Global: Japanese manufacturing PMI falls in Oct. ’24

Japan’s manufacturing sector contracted in October as the Purchasing Managers’ Index (PMI) fell from 49.7 in September to 49.0 in October, indicating a stronger deterioration in manufacturing operating conditions.

According to the latest au Jibun Bank Flash Japan Services PMI released by S&P Global on Thursday, output and new orders declined at the fastest rates in six and seven months, respectively. Consequently, companies reduced employment levels for the first time since February, and purchasing decreased for the first time in three months.

The outlook for output in the upcoming months is expected to be subdued, as firms reported a significant depletion in outstanding business levels, the most since March. Additionally, positive sentiment about the next 12 months fell to the lowest level since April 2022.

Attribution: S&P Global report

Subediting: Y.Yasser