Japan flash PMIs (October): Manufacturing 49.0 (prior 49.7) Services 49.3 (prior 49.6)

Jibun Bank S&P Global PMI Flash / Preliminary for October 2024 for Japan – slumping from the previous month:

Composite 49.4,

• first contraction in four mnnths

Not a good survey:

• factory activity contracts for the 4th straight month
• New orders decreased across manufacturing and services
• Poor demand conditions in the domestic economy, and new orders from abroad fell at the quickest
  pace since February 2023
• services had their first contraction in four months, to the lowest
  level since February 2022

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