Japan October final manufacturing PMI 48.7 (preliminary was 48.5)

<p>Final PMI from Japan for October 2023 comes in at 48.7:</p><ul><li>flash was 48.5</li><li>and 48.5 prior</li></ul><p>Jibun / S&amp;P Global Preliminary October PMIs for Japan<a href="https://www.forexlive.com/news/japan-jibun-preliminary-manufacturing-pmi-for-october-485-prior-485-20231024/" target="_blank" rel="follow"> are here.</a></p><p>Another dismal result. </p><p>Comments from the report:</p><p>“Another month of deteriorating operating conditions
was signalled by the PMI during October, as depressed
industrial demand both at home and abroad weighed
on sector performance. Companies continued to
batten down the hatches by cutting purchasing, not
replacing leavers and focusing on smart inventory
management to minimise any unnecessary plant costs.
Still, inflationary pressures remained somewhat sticky,
with costs again rising quite steeply and charges up to a
marked degree.
</p><p>“There are hopes however that the current market
downturn is finding a bottom. Firms are widely
anticipating some growth and improvement in 2024,
with the inventory cycle expected to turn after a
prolonged period of destocking, and demand from key
Japanese industrial sectors forecast to rise over the
coming 12 months.”</p>

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