Japan's factory activity contracted for a fifth straight month in October, as subdued demand and inflationary pressures squeezed businesses. The final au Jibun Bank Japan manufacturing purchasing managers' index (PMI) stood at 48.7 in October, slightly improved from 48.5 in September, but still below the 50.0 point threshold that separates growth from contraction.
TOKYO - Japan 's factory activity contracted for a fifth straight month in October , a survey showed on Wednesday, as subdued demand and inflationary pressures squeezed businesses.
Subindexes of output and new orders also contracted for a fifth straight month in October. Respondents said that sales demand at home and abroad was weak. "Companies continued to batten down the hatches by cutting purchasing, not replacing leavers and focusing on smart inventory management to minimise any unnecessary plant costs," said Usamah Bhatti at S&P Global Market Intelligence, which compiled the survey.
"Inflationary pressures remained somewhat sticky, with costs again rising quite steeply and charges up to a marked degree," Bhatti said.
New Orders Sales Exports Chinese Market Employment Inflation Raw Materials Weak Yen Economy Japan Factory Activity October Survey Demand Inflationary Pressures Manufacturing PMI Growth Contraction
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