Japan’s manufacturing sector fell in October. | So Good News
The manufacturing sector in Japan continued to expand in October, albeit at a slower pace, according to Jibun Bank’s latest survey on Tuesday, with a manufacturing PMI score of 50.7.
That’s still above the 50 boom-or-bust line that separates expansion from contraction, but it’s down from 50.8 in September.
According to the image that came out, Order volumes decreased for the fourth straight month since October. Evidence suggests cooling. Markets And weak underlying demand drove the decline, with some panel members specifically citing a slowdown in the auto and semiconductor industries.
International demand is also weak, as signaled by the eighth consecutive monthly decline in new export orders. Slowing economic conditions in some of Japan’s key export markets are reportedly driving the latest crisis. As such, Japanese manufacturing firms expanded their workforce in October, albeit at a softer rate than in September.
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