12/1/2023, 1:30 AM (Source: TeleTrader)
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Japan's manufacturing activity down in November

The manufacturing sector in Japan receded deeper into contraction territory in November, according to S&P Global's report on Friday. The Purchasing Managers’ Index (PMI) fell from 48.7 in October to 48.3 in November, signaling the strongest reduction since February. The drop in output levels was also at its highest level in nine months, with new orders falling and foreign sales down to a low unseen since June.

"Despite the weaknesses displayed in the components of the headline PMI, manufacturers remained optimistic that muted demand and production conditions would lift over the coming year. The degree of positive sentiment was robust overall, as firms cited hopes of a broad-based boost to domestic and international demand following new product launches, most notably in the semiconductor sector," S&P Global Market Intelligence's Usamah Bhatti said.

Baha Breaking News (BBN) / DJ