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 48.3.
That's down from 48.7 in October and was shy of expectations for 49.4. It also moved further beneath the boom-or-bust line of 50 that separates expansion from contraction; the index has been in contraction for 19 straight months.
Production and new orders fell at faster rates, while employment fell marginally further and business expectations slipped to a three-month low.
The survey also said the services PMI fell to 46.7 from 47.7 a month earlier, and the composite PMI sank to 47.0 from 48.0 in the previous month.