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| Version 1 | Version 2 |
|---|---|
| Japanese manufacturing activity falls as exports shrink | Japanese manufacturing activity falls as exports shrink |
| (about 4 hours later) | |
| Japanese manufacturing activity shrank for a third consecutive month in November as a strong yen hit exports. | Japanese manufacturing activity shrank for a third consecutive month in November as a strong yen hit exports. |
| The Nomura/JMMA Japan Manufacturing Purchasing Managers Index (PMI) stayed below the 50 threshold that separates contraction from growth. | The Nomura/JMMA Japan Manufacturing Purchasing Managers Index (PMI) stayed below the 50 threshold that separates contraction from growth. |
| The index for new export orders fell to 46.9 from 48.4 in the previous month, showing that export orders contracted at their fastest pace in 19 months. | The index for new export orders fell to 46.9 from 48.4 in the previous month, showing that export orders contracted at their fastest pace in 19 months. |
| Also, new figures showed Japan's jobless rate rose to 5.1% in October | Also, new figures showed Japan's jobless rate rose to 5.1% in October |
'Trend persisting'
| |
| "Real exports in gross domestic product statistics were already showing a slowdown in July-September," said Kohei Okazaki, an economist at Nomura Securities. | "Real exports in gross domestic product statistics were already showing a slowdown in July-September," said Kohei Okazaki, an economist at Nomura Securities. |
| "This trend appears to have persisted in October to November," he said. | "This trend appears to have persisted in October to November," he said. |
| Meanwhile, Japan's national unemployment rate rose to 5.1% in October, from 5% in September. | Meanwhile, Japan's national unemployment rate rose to 5.1% in October, from 5% in September. |
| While the rate is still far below some other industrialised nations, it is relatively high for Japan. | While the rate is still far below some other industrialised nations, it is relatively high for Japan. |
| Last week, the Japanese parliament passed a new $61bn stimulus package aimed at creating jobs and reviving the country's faltering economic recovery. | Last week, the Japanese parliament passed a new $61bn stimulus package aimed at creating jobs and reviving the country's faltering economic recovery. |