Japan Factory Sentiment Hits Five Year High
Big Japanese manufacturers reported rising confidence in October driven by strong chip demand. Meanwhile non-manufacturer sentiment deteriorated sharply due to rising costs and weak spending.
Business confidence among large Japan manufacturers rose to plus-22 in October, hitting its highest level in nearly five years. The increase was driven by robust chip demand, outpacing a sharp deterioration in non-manufacturing sectors. The data highlights a widening divergence between export-heavy manufacturing and domestic service industries facing cost pressures.
