Japan Manufacturing PMI Slips To 49.2 In October - Jibun

(RTTNews) - The manufacturing sector in Japan continued to contract in October, and at a faster rate, the latest survey from Jibun Bank revealed on Friday with a manufacturing PMI score of 49.2.

That's down from 49.7 in September, and it moves further beneath the boom-or-bust line of 50 that separates expansion from contraction.

The latest contraction was led by a renewed and moderate decline in investment goods. There was also a softer fall at intermediate goods producers while consumer goods saw broadly stagnant conditions. Factory output fell for the second successive month during October.

While only marginal, the reduction was the most marked since April. Where a decline was signaled, survey participants commented weaker new orders, while there was also evidence that firms had excess inventories.