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An Hour Ago

Japan’s October business activity grows at slowest pace this year

Japan’s business activity expanded in October but at its softest pace this year, according to a private survey.

The au Jibun Bank final composite purchasing manager’s index was at 50.5 in October, signaling a tenth successive monthly increase in private sector business activity but down from 52.1 in September.

The headline au Jibun Bank Japan Services Business Activity index expanded for the fourteenth straight month in October, coming in at 51.6 but down from 53.8 in September.

Both readings pointed to the weakest expansion so far in 2023.

The survey said there were further signs of slowing expansion amid softening demand conditions, while business confidence also eased in October.

— Shreyashi Sanyal

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