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Markit/JMMA Japan Manufacturing PMI
October’s PMI data indicated a further deterioration in the performance of the Japanese manufacturing sector. Orders and output both continued to fall during the month, while evidence of rising excess capacity led to a first reduction in employment for half a year. Manufacturers also intentionally cut back on their stock holdings as order books deteriorated and the outlook remained uncertain. After adjusting for seasonal factors, the headline Markit/JMMA Purchasing Managers’ Index™ (PMI™) slipped further below the 50.0 no-change mark in October. The index registered 46.9, down from 48.0 in September and an ... (full story)