Overview
- Japan’s flash manufacturing PMI rose to 48.8 in November from 48.2, marking a fifth straight month of contraction but a softer downturn with factory output at a four-month high.
- Weak external demand persisted for Japan, with new export orders falling at the fastest pace in three months, even as services held firm at 53.1 and lifted the composite to 52.0.
- Price pressures intensified in Japan, where input costs rose at the fastest pace in six months and firms raised selling prices, while business confidence and employment strengthened.
- India’s flash composite PMI slipped to 59.9 from 60.4 as manufacturing eased to a nine-month low of 57.4, partly offset by a pickup in services to 59.5.
- Indian survey data pointed to softer overall new orders, the slowest rise in new export orders since March, easing input and output price inflation, weaker sentiment since mid-2022, and the slowest hiring in over 18 months.