According to au Jibun Bank/Standard & Poor's Global, Japan's manufacturing purchasing managers' index (PMI) for October was revised upwards from the previous value of 49.7 to 49.2, higher than the market's expectations of an initial drop to 49, still marking a three-month low.

Standard & Poor's stated that companies generally mentioned that weak demand in Japan and globally exerted pressure on sales and output, especially in the semiconductor and automobile sectors. Output dipped slightly in October, with the sharpest decline since April, affected by weak new orders and excessive inventory. Overall, new orders have declined for 17 consecutive months. Purchasing activities decreased again, employment stagnated; output charge inflation accelerated to a three-month high. Manufacturing firms remain optimistic about the outlook for the next year, but it is similar to the 21-month low recorded in September.