au Jibun Bank’s Japan flash Oct manufacturing PMI rises to 53.0

SINGAPORE (ICIS)–au Jibun Bank’s flash manufacturing purchasing managers’ index (PMI) for Japan rose to 53.0 in October from 51.5 in September, signalling the strongest improvement in operating conditions since July, the Japanese firm said on Friday.

Both output and new order volumes reversed the declines recorded in September to rise at a marginal pace, it said in a statement.

A PMI reading above 50 indicates expansion in the manufacturing economy, while a lower number denotes contraction.

“Job creation continued for the seventh successive month, with the rate of growth the quickest since April 2019,” au Jibun Bank said.

“Firms also remained confident that activity would increase over the next 12 months, with optimism reaching the highest since June’s series record,” it added.