The activity in Japan's manufacturing sector decreased in November, with the Jibun Bank Manufacturing Purchasing Managers' Index (PMI) landing at 49, according to a report by S&P Global on Friday.
The number went below the 50 mark, showing a downturn in Japan's manufacturing sector. At the same time, the result also shows business activity slowed further compared to the October figure which came in at 49.4.
"As has been the case for much of the past four years, price pressures remain elevated across the Japanese private sector, with a large number of respondents mentioning higher raw material prices and the weakness of the yen, moreover, November saw a sharp acceleration in prices charged for goods and services as firms increasingly sought to pass higher cost burdens on to customers." Usamah Batti, economist at S&P Global Market Intelligence, said in the report.
