Japan Jibun preliminary Sep PMIs: Manufacturing 49.6 (prior 49.8) Services 53.9 (53.7)

Japan preliminary PMIs, manufacturing slipping deeper into contraction, services improving a little.

Manufacturing PMI 49.6

• prior 49.8

Services 53.9

• prior 53.7

Composite 52.5

• prior 52.9

Snippet from the report commentary, price pressures will be welcomed by the Bank of Japan:

• expansion in business activity remained services-led in September, where the rate of increase strengthened to a five-month high
• Manufacturing output meanwhile fell back into contraction territory for the second time in three months
• the rate of input cost inflation eased in September to reach the lowest for six months
• manufacturing and services firms noted softer cost pressures, though average operating expenses remained historically elevated overall
• the rate of output price inflation ticked up slightly from August

This article was written by Eamonn Sheridan at www.forexlive.com.