Japan's manufacturing sector saw a slight downturn as indicated by the latest au Jibun Bank Japan Manufacturing Purchasing Managers' Index (PMI) released for October 2024. The index edged down from 49.7 in September to 49.0 this month, according to updated data released on October 24, 2024.
The decline below the critical 50.0 mark, which separates expansion from contraction, suggests a continued, albeit marginal, contraction in manufacturing activity. This marks further challenge for Japan's manufacturing industry amidst global economic uncertainties.
This PMI reading reflects ongoing concerns about domestic demand and external trade pressures, which have weighed on Japan's manufacturing prospects. Investors and policymakers will be closely watching subsequent reports for signs of stabilization or deeper contraction as the sector navigates these challenging times.
