The au Jibun Bank Japan Manufacturing PMI for October 2024 was revised up to 49.2 from a preliminary reading of 49.0, following a final figure of 49.7 in September.
Japan factory activity decreases in October
This marks the fourth consecutive month of contraction in the manufacturing sector and the steepest decline since March. Production dropped at its fastest rate in six months, while new orders fell for the seventeenth consecutive month, declining at the sharpest pace in three months, with export orders down the most in seven months due to weak demand. Job creation stalled amid easing capacity pressures, with backlogs of work decreasing at the fastest rate in seven months. Purchasing activity also declined, and supplier delivery times extended. On pricing, input cost inflation slowed to a six-month low, while output price inflation picked up.
Business sentiment remains positive
Business sentiment remained positive, though little changed from September’s 21-month low, as concerns persisted over the timing of a recovery from the current economic slowdown.
