Japan final manufacturing PMIs (October 2024 ): 49.2 (prior 49.7)

Manufacturing PMI from Japan, final for October 2024:

• preliminary was 49.0
• prior 49.7

From the report, not very encouraging for the Japanese economy:

• stronger deterioration in
  the health of the manufacturing sector in Japan
• output
  fell only marginally but at the strongest rate since April
• new orders contracted at the steepest pace for three
  months
• Firms often mentioned weakness in domestic and
  global demand had weighed on sales and output, notably
  in semiconductors and autos.
• goods producers signalling a renewed fall in
  purchasing activity
• broad stagnation in employment
  levels
• firms increasingly
  worked through backlogs of work, a sign that new order
  inflows are not enough to sustain production
• confidence was little-changed from the near-two year low
  seen in September
• firms highlighted concern regarding
  the timing of the recovery from the current economic
  malaise

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