Japan's manufacturing sector contracted in October 2024 as PMI dropped to 49.2 amid weak demand.

Japan's manufacturing sector experienced a notable decline in October 2024, with the final Purchasing Managers' Index (PMI) falling to 49.2 from 49.7, indicating contraction. The decrease reflects weaker domestic and global demand, particularly impacting semiconductors and automobiles. Factory output declined for the second consecutive month, and new orders fell sharply, leading to stagnant employment levels and ongoing concerns about economic recovery.

November 01, 2024
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