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9/26, 2:30 AM (Source: TeleTrader)
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Japan's private sector records growth in September

Private sector activity in Japan recovered somewhat in September, with the Composite Purchasing Managers' Index (PMI) surpassing the threshold into positive territory at 50.9, compared to 49.4 in August. The S&P Global preliminary report on Monday put the manufacturing PMI at 48.9, down from 49.2 in August, and the services PMI at 51.9, rising from August's 49.5. The report also noted that business confidence fell to a 13-month low.

"Looking ahead, businesses are reporting concerns around the economic outlook amid steep cost pressures and the rising likelihood of a global economic downturn. The remarkable weakness we've seen in the year-to-date yen continues to push up price pressures, with companies struggling to fully pass on these higher cost burdens to clients," said Joe Hayes, senior economist at S&P Global.

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