Nikkei / Markit manufacturing PMI preliminary for Japan
Comes in at 52.5 in October
- Down from September's 4 month high at 52.9
- The output subindex fell
- business confidence subindex is down to a low for 11 months
The preliminary reading is based on around 85 to 90% of responses, the final will be delivered next week.
Commenting on the Japanese Manufacturing PMI survey data, Joe Hayes, Economist at IHS Markit
- "Although still improving solidly, the Japanese manufacturing sector appeared to lose some momentum in October, as growth eased from September's four month high.
- Softer expansions were seen for both output and new orders.
- Meanwhile, firms continued to largely absorb cost pressures, with output price inflation only marginal again in October.
- Signs of slowing growth coincided with faltering optimism, as the level of positive sentiment fell to an 11- month low."
Yen doing pretty much nothing on the release - which is not unusual.
