Japan manufacturing PMI shrinks more than expected in Sept, services strong
Investing.com-- Japanese manufacturing activity shrank more than expected in September as major automakers continued to grapple with production disruptions, while services activity picked up on strong consumer demand.A reading below 50 indicates contraction, with the manufacturing PMI now having shrunk for a third consecutive month.
“The latest reading indicated that growth momentum was sustained throughout the third quarter of 2024, and hints at a stronger Q3 GDP reading,” Usamah Bhatti, economist at S&P Global Market Intelligence said. Private spending has been a key driver of Japanese economic growth in recent quarters, as consumption picked up in tandem with increased wages.Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events.
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