Flash PMIs Show Renewed Contraction Of Australian Economy In October, Japan's Service Sector Powers Growth

Oct. 25, 2022 6:30 AM ET, , , , , , , , , , , , , , ,
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Summary

  • The latest flash PMI data showed that Australia's private sector economy shrank for the first time since the start of the year in October.
  • The au Jibun Bank Flash Japan Composite PMI showed the Japanese economy expanding for a second straight month in October and at the strongest pace in five months.
  • Amid the array of challenges for private sector firms, business confidence deteriorated in the latest October flash findings.

Japan and Australia two flags together realations textile cloth fabric texture

Oleksii Liskonih

October's flash PMI data indicated that the Australian economy returned to contraction following eight straight months of growth. On the other hand, Japan's expansion accelerated at the start of the fourth quarter, powered by improvements in the service sector as the

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