• Headline PMI ticks up to four-month high of 52.9

• Foreign demand improves for first time in five months

• Output price inflation jumps to decade-high

Commenting on the Japanese Manufacturing PMI survey data, Joe Hayes, Economist at IHS Markit, which compiles the survey, said: “With PMI data for Q3 pointing to a slowdown in Japanese manufacturing sector growth momentum, a renewed acceleration at the beginning of the fourth quarter is welcome news, with the key macroeconomic health gauges of output, new orders and employment all growing at faster rates. A rebound in export sales is also a positive development given the backdrop of global trade woes. “However, whether the upturn is the start of a new trend or a transitory response to September’s weather-impacted performance remains to be seen. Anecdotes suggest that supply chains were still suffering during October from the aftermath of natural disasters in the region”