Japan's manufacturing PMI falls for sixth straight month
- Asian Market
- 2 months ago
The Jibun Bank Japan Manufacturing PMI dropped to 48.5 in October 2019 from a final 48.9 in the previous month, missing the analysts expected mark of 48.8, making it the sixth consecutive month of contraction in factory activity and the steepest since June 2016, amid slowing global growth and following the consumption tax increase.
New orders fell the most in nearly seven years and overseas sales declined further, although output growth increased with backlogs of work depleting faster.
Meanwhile on the price front, input price inflation slowed, while selling charge decreased at a softer rate.
Source: Smart Trend Team