logo
  

Japan Private Sector Activity Deteriorates In November

Japan's private sector activity contracted for the first time in three months in November amid a sharp downturn in the manufacturing sector, flash survey results from S&P Global showed on Thursday.

The au Jibun Bank composite output index fell to 48.9 in November from 51.8 in the previous month. A score below 50.0 indicates contraction.

The latest downturn was caused by poor performance at Japanese manufacturing firms due to cooling demand conditions and acute inflationary pressures.

The manufacturing PMI declined to 46.3 in November from 48.7 in October.

Meanwhile, service providers signaled no change in activity levels from the month prior.

The services Purchasing Managers' Index fell to 50.0 from 53.2 a month ago.

Despite this, business inflows rose for the third consecutive month, as firms reported continued benefits from the National Travel Discount Programme.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
The U.S. Consumer Product Safety Commission or CPSC announced recall of thousands of children's Robes made in China and sold exclusively on Amazon.com by various companies. The recalled robes fail to meet the federal flammability standards for children's sleepwear, posing a risk of burn injuries to children. Further, citing the same concerns, Paper Cape children's pajamas manufactured in Peru ... Health services company Cigna Corp. reported Friday higher profit in its fourth quarter reflecting growth in both Evernorth and Cigna Healthcare segments. Adjusted earnings and topline beat market estimates. Looking ahead for fiscal 2023, the company projects adjusted earnings and adjusted revenues to be higher than last year, but below market view. French drug major Sanofi SA reported Friday higher profit in its fourth quarter with strong revenue growth mainly with strong sales of Dupixent. Looking ahead for fiscal 2023, the company projects higher business earnings, but the expected growth is slower than recorded in fiscal 2022. Sanofi shares were losing around 4 percent in the morning trading in Paris as well as in pre-market activity...
Follow RTT