Japan Manufacturing Slows to 21-Month Low, Services Pick Up With Reopening for Visa-Free Travel

Pedestrians seen behind artificial cherry blossom decorations at a shopping district on the first day after the lifting of COVID-19 restrictions imposed on Tokyo and 17 other prefectures, in Tokyo, Japan, on Mar. 22, 2022. Kim Kyung-Hoon/Reuters

Japan’s factory activity growth slowed further to a 21-month low in October as relentless cost pressures torment manufacturers; but service-sector firms received a boost as the country reopened to foreign tourists visa-free.

The au Jibun Bank Flash Japan Manufacturing Purchasing Managers’ Index (PMI) eased to a seasonally adjusted 50.7 in October, down from the prior month’s final of 50.8.