Japan preliminary November PMIs: Manufacturing 48.1 (expected 48.8)

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Japan preliminary November PMIs: Manufacturing 48.1 (expected 48.

Preliminary Jibun / S&P Global PMIs from Japan for November 2023. 

Manufacturing 48.1, its 6th consecutive month in contraction

• expected 48.8, prior 48.7
• output and new orders fell further
• employment in the sector fell after falling also in October
• muted demand cited
• input price inflation hit a 27 month low but remains elevated - rising raw material, fuel and labour costs as well as a
  weak yen all cited

Services 51.7 

• prior 51.6
• 51.7 is the second lowest for this for 2023

Composite 50.0

• prior 50.5

USD/JPY update - little change on the session so far. 

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Earlier today from Japan:

• Japan October inflation data remains well above the BOJ's 2% target

                This article was written by Eamonn Sheridan at www.forexlive.com.

Source: Japan preliminary November PMIs: Manufacturing 48.1 (expected 48.

forexlive.com