Japanese private sector output continued to expand in October, according to the Flash PMI® data, with increased activity across the service sector offsetting a further decline in manufacturing production. However, the overall rate of growth slowed for the second month running and was the softest recorded since May. The sustained slowdown coincided with a fresh decrease in total new work placed with Japanese companies during October. As a result, the rate of payroll growth eased and confidence around the year ahead weakened slightly. Inflationary pressures meanwhile picked up, with both input costs and output charges ... (full story)