(RTTNews) - The manufacturing sector in Japan continued to contract in November, and at a faster pace, the latest survey from Jibun Bank revealed on Friday with a manufacturing PMI score of 49.0.
That's down from 49.2 in October, although it moves further beneath the boom-or-bust line of 50 that separates expansion from contraction.
The decline signaled a modest deterioration in Japanese manufacturing conditions for the fifth straight month. Both output and new orders fell, with the former down by the largest degree since April. Firms reduced employment levels for the first time since February.
The survey also showed that the services PMI improved to 50.2 from 49.7 in the previous month.
The composite PMI rose to 49.8 in November from 49.6 on October.
