Japan preliminary November PMIs: Manufacturing 48.1 (expected 48.8)

<p>Preliminary Jibun / S&amp;P Global PMIs from Japan for November 2023.&nbsp;</p><p>Manufacturing 48.1, its 6th consecutive month in contraction</p><ul><li>expected 48.8, prior 48.7</li><li>output and new orders fell further</li><li>employment in the sector fell after falling also in October</li><li>muted demand cited</li><li>input price inflation hit a 27 month low but remains elevated – rising raw material, fuel and labour costs as well as a
weak yen all cited</li></ul><p>Services 51.7&nbsp;</p><ul><li>prior 51.6</li><li>51.7 is the second lowest for this for 2023</li></ul><p>Composite 50.0</p><ul><li>prior 50.5</li></ul><figure data-media-><img src="https://images.forexlive.com/images/usdyen%20update%20chart%20cpi%20pmi%2024%20November%202023_id_4c462187-8ccd-459e-881d-2d1d624ed818_size900.jpg" alt="usdyen update chart cpi pmi 24 November 2023" width="1076" height="740" wrapper-="wrapper-" data-src="https://images.forexlive.com/images/usdyen%20update%20chart%20cpi%20pmi%2024%20November%202023_id_4c462187-8ccd-459e-881d-2d1d624ed818_size900.jpg" /></figure><p>USD/JPY update – little change on the session so far.&nbsp;</p><p>— </p><p>Earlier today from Japan:</p><ul><li><a href="https://www.forexlive.com/centralbank/japan-october-inflation-data-remains-well-above-the-bojs-2-target-20231123/" target="_blank" rel="follow" data-article-link="true">Japan October inflation data remains well above the BOJ's 2% target</a></li></ul>

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