Japanese factory activity sank to more than a three-year low in October, with th...
TOKYO - Japanese factory activity sank to more than a three-year low in October, with the sixth-straight month of contraction largely led by shrinking new orders and output in a fresh warning sign for the world’s third-largest economy.
The figure was down a notch from last week’s preliminary October reading of 48.5, and compared to a final 48.9 in the previous month. “With weak regional growth across Asia and signs of fragility within the domestic economy, it is difficult to see any respite coming in the near-term.” The PMI data showed total new orders shrank at their fastest pace since May 2016, while factory output and new export orders were also in contraction. Total new orders and output stayed in contraction for the 10th straight month.
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