Japan's factory activity extends declines on sluggish demand, PMI shows [Yahoo! Finance Canada]
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Source: Yahoo! Finance Canada
The index stayed below the 50.0 threshold separating growth from contraction for a fifth straight month. "Demand conditions at private sector companies were stagnant during November," said Usamah Bhatti, economist at S&P Global Market Intelligence, which compiled the survey. The subindex for output contracted for the third straight month in November and that of new orders also shrank for the month, staying below the 50.0 threshold since June last year. Manufacturers also reduced employment for the first time since February, the survey found. Input inflation remained high in November though price growth slowed to a seven-month low, while the rate of output prices grew to the strongest since July. "Price pressures remained elevated across the Japanese sector, with a large number of respondents mentioning higher raw material prices and the weakness of the yen," said Bhatti. The au Jibun Bank flash services PMI grew to 50.2 in November, reversing its slight contraction of 49.7
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