Japan's October manufacturing rises as exports pick up, boosting steel demand

摘要

Singapore—Japan’s manufacturing sector in October improved month on month as export orders rose for the first time since November 2018, especially for the domestic vehicle industry, supporting demand for automotive steel. The October PMI firmed to 48.7 in October from 47.7 in September, but remained in negative territory for an 18th straight month as the coronavirus pandemic took its toll, the manufacturing purchasing managers' index published by au Jibun Bank Japan Nov. 2 showed. Typically, a PMI above 50 represents an expansion, and under 50 shows a contraction and 50 indicates stability.