Japan’s October services PMI rose to 51.7 from 51.3, marking a fifth month of expansion, Reuters reports. But hiring slowed to its weakest pace in the current 14-month stretch and confidence fell to its lowest since March. Composite growth eased to 52.1 from 52.3 as manufacturing slowed, leaving a mixed backdrop for further Bank of Japan tightening.
Related currencies / asset groups: JPY
S&P Global’s Annabel Fiddes says growth momentum and easing costs will be important as the Bank of Japan assesses further tightening.
Reuters reports Japan’s October services PMI rose to 51.7 from 51.3, a fifth straight month of expansion.
finance.yahoo.comEmployment rose only marginally, the weakest pace in the current 14-month hiring stretch; confidence fell to its lowest since March.
finance.yahoo.comJapan’s composite output index eased to 52.1 from 52.3 as slower manufacturing offset stronger services growth.
finance.yahoo.comLimitation: services improved, but hiring and confidence weakened and composite growth slowed.
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