In October, Japan’s factory activity growth gained momentum from the previous month, as the services sector rose for the first time in 21 months after easing COVID-19 curbs.
- The au Jibun Bank Flash Japan Manufacturing Purchasing Managers’ Index (PMI) increased to a seasonally adjusted 53.0 in October from a final 51.5 in the previous month.
- Manufacturers grappled with supply chain bottlenecks and rising demand for raw material that led to the sharpest rise in input prices in over 13 years, as pandemic continues to impact the global economy.
- The key elements of the survey posted expanded output and new orders due to stronger overseas demand.
- Usamah Bhatti, an economist at IHS Markit, stated private sector businesses recorded an increase in aggregate new business for the first time since April backed by a quicker rise in export orders.
- The au Jibun Bank Flash Services PMI Index expanded to a seasonally adjusted 50.7 from the last month’s final of 47.8.
The au Jibun Bank Flash Japan Composite PMI that uses both manufacturing and services expanded to 50.7 from September’s final of 47.9.
Nikkei 225 up +0.34, JPY USD up +0.22%
Source: IHS Markit
