S&P Global Market Intelligence: Japan’s Manufacturing PMI Shows Steady Expansion Amid Cost Pressures

According to Jin10, S&P Global Market Intelligence’s Phil Smith said Japan’s manufacturing sector maintained a steady pace of expansion at the start of the fourth quarter, despite slower output growth and fewer new orders. The manufacturing PMI fell to a seven-month low of 53.3 in October, but remained above its long-term average of 50.6 and the 50-point threshold separating expansion from contraction. Smith said business confidence remained firm, supported by rising order backlogs and AI-related demand. Cost pressures remained high, but manufacturers showed strong pricing power as outstanding orders increased.