Japan's factory, service sector activity under pressure in Oct - PMI.
TOKYO -- Japan's factory activity shrank for a fifth straight month in October while the service sector saw its weakest growth this year, a survey showed on Tuesday, amid growing uncertainty over the outlook for the world's third-largest economy.
The au Jibun Bank flash Japan manufacturing purchasing managers' index (PMI) remained flat at 48.5 in October. The index has remained below the 50.0 threshold that separates contraction from expansion since June.
Output slipped at the fastest rate in eight months due to a decline in new orders, the survey showed. Pressured by lower capacity, employment levels slipped into contraction for the first time since February 2021.
Cost pressures eased slightly as input price inflation hit a three-month low. The government said on Friday Japan's core inflation last month slowed below the 3 percent threshold for the first time in over a year.
Japan's core inflation slows below 3% for first time in over a year
However, the October PMI data indicated further softening in the service sector, which anchored Japanese economy over recent quarters.
The au Jibun...
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