Japon PMI manufacturier

The au Jibun Bank Japan Manufacturing PMI unexpectedly declined to 49.0 in November 2024, the lowest figure since March, from a final 49.2 in October, missing market expectations of 49.5, according to preliminary data. This marked the fifth consecutive month of contraction in factory activity, as both output and new orders decreased, with the former experiencing the most significant drop since April. Additionally, foreign demand and purchasing levels remained weak, although the rate of their decrease slowed. Firms reduced employment levels for the first time since February, and backlogs of work fell significantly. Delivery times continued to lengthen, albeit at a slower pace. On the pricing front, input cost inflation eased to a seven-month low, while output cost inflation accelerated to its highest rate since July. Despite these challenges, business sentiment improved.