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Financial News: Japan Manufacturing PMI Accelerates In October - Jibun

Japan Manufacturing PMI Accelerates In October - Jibun

10/21/2021 - 20:55:00 (RTTNews)

(RTTNews) - The manufacturing sector in Japan continued to expand in October, and at a faster pace, the latest survey from Jibun Bank showed on Friday with a manufacturing PMI score of 53.0.

That's up from 51.5 in September, and it moves further above the boom-or-bust line of 50 that separates expansion from contraction.

Both output and new order volumes reversed the declines recorded in September to rise at a marginal pace. Moreover, job creation continued for the seventh successive month, with the rate of growth the quickest since April 2019. Firms also remained confident that activity would increase over the next 12 months, with optimism reaching the highest since June's series record.

The survey also showed that the services PMI climbed to 50.7 in October from 47.4 in September, while the composite also rose to 50.7 from 47.9 a month earlier.

Positive sentiment picked up slightly in the latest survey period to reach a four-month high, which extended optimism to a fourteenth consecutive month.

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