Earlier in the week we got the Nikkei / Markit Manufacturing PMI (September, final): 52.9 (preliminary 52.6)
Services expanded at the slowest rate in 11 months
- In expansion for the 12th consecutive month
- new business index also showed expansion at a reduced pace, down at 52.0 in September from 52.4 in August
- index for business sentiment rose to 53.3 from 52.4 in August
Joe Hayes, economist at IHS Markit
- Softer growth in new work squeezed activity to its slowest growth rate in nearly a year, while job creation remained modest
- Weaker activity growth, however, has not fuelled a further slide in business confidence, which picked up moderately following a 13-month low in August.