October PMIs from Japan

Services 53.4 from September's 51.0

  • 13th consecutive month of expansion
  • services PMI to a more than 2-year high
  • index for business sentiment rose to a fourth-month high of 55.5 from 53.3 in September
  • new orders accelerated sharply

Composite PMI (includes manufacturing and services) to 53.4 also (from 51.7 in September)

  • Highest in five months

This augurs well for economy momentum in Q4 for Japan