Japan manufacturing sector continued to contract in October, the latest survey from Jibun Bank revealed on Friday with a manufacturing PMI score of 48.0, Thats up 47.7 in September, although it remain beneath the boom-or-bust line of 50 that separates expansion from contraction. Production and new orders fell further but at weaker rates. The decline in backlogs also moderated while employment fell marginally. Business expectations about the year ahead outlook remained positive. The report also showed that the services index fell to 46.6 from 46.9 and the composite index rose to 46.7 from 46.6.
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