Japan's September Factory Growth Slows to Six-Month Low as PMI Eases to 54.1
Japan's manufacturing sector expanded at its weakest pace in six months in September, with the S&P Global Japan Manufacturing Purchasing Managers' Index easing to 54.1 from 54.9 in August, Reuters reported on October 1. The reading matched the flash estimate and marked a ninth consecutive month of expansion.
Firms signalled slower increases in output and new orders, as some clients adjusted inventories after an earlier period of stock accumulation. Production growth eased to a three-month low and new order growth was the weakest in four months.
Overseas demand remained firmer. New export orders rose for a ninth straight month at the second-sharpest pace since January 2018, supported by stronger demand across Asian economies and improved sales to the United States. Employment increased for a 22nd consecutive month, close to August's recent high.
Input cost inflation slowed to a six-month low even as firms kept raising selling prices at one of the sharpest rates since late 2022. For Chinese importers, exporters and manufacturers in Japan, the mix of strong export orders and domestic inventory adjustment signals a shifting order book.
Published by GSM · USA (original Chinese edition)
Photo: 名古屋港集装箱码头实景，摄影：Gazouya-japan，CC BY-SA 4.0，来源：Wikimedia Commons（File:Container terminal = 愛知／飛島埠頭【 Pictures taken in Japan 】--③.jpg）
