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TOKYO- Japanese manufacturing activity contracted again in November, with export orders at their weakest in five months due to slowing foreign demand, including from China.
The Jibun Bank Final Japan Manufacturing Purchasing Managers’ Index (PMI) edged up to 48.9 on a seasonally adjusted basis, up a notch from last week’s preliminary reading of 48.6 and compared to October’s final reading of 48.4.
Despite the slower pace of decline, the index stayed below the 50.0 threshold that separates contraction from expansion for a seventh month, marking the longest such run since a nine-month stretch from June 2012 to February 2013. – Reuters
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