Japan PMI Manufacturing Nikkei / Markit, the preliminary for november
- 51.8 from October's 52.9
The November result is the lowest in two years (since November of 2016)
- The new orders component has fallen into contraction
- Business confidence component recorded its 6th straight month lower
IHS Markit comments:
- "October's six-month peak seems to have been just a transitory month-to-month rebound following September's weather-hit dip. The November PMI dropped to a two-year low as the rate of output growth weakened and new orders for goods declined for the first time since September 2016.
- The underlying trend appears to be skewed to the downside. Indeed, the fall in new orders is a worrying development as easing global growth momentum coupled with a weak domestic backdrop could spell further demand woes for Q4. In fact, survey data suggests that manufacturers have already begun to pare back expectations, as confidence fell for a sixth consecutive month."
