Japan Manufacturing PMI Eases to Seven-Month Low of 53.3 in October

Japan's manufacturing growth cooled in October as the S&P Global Manufacturing PMI fell to a seven-month low of 53.3 from 54.1 in September. Despite the slowdown, the index remained above its 50.6 long-run average, with factory production expanding for a tenth consecutive month. Growth in output and new orders slowed to seven-month lows. Meanwhile, input price inflation accelerated for the first time in five months due to elevated crude oil and raw material costs, driving manufacturers to build pre-production inventories at the fastest rate in nearly four years.