TOKYO, Nov 24 (Reuters) – Japanese manufacturing activity grew in November at a slightly slower pace than the previous month as growth in new orders eased in a sign that the sector has lost a little momentum.
The Flash Markit/Nikkei Japan Manufacturing Purchasing Managers Index (PMI) for November, released on Thursday, fell to a seasonally adjusted 51.1 from a final 51.4 in October.
The index remained above the 50 threshold that separates expansion from contraction for the third consecutive month.
The index for new orders, which measures both domestic and external demand, fell to a preliminary 50.4 from 50.8 in the previous month.
The output component of the PMI index also declined to a preliminary 52.2 from a final 53.3 in October.
Japan’s economy grew more than expected in the July-September period, expanding for a third straight quarter as exports recovered.
Some economists are cautious about the outlook because consumer spending is still lacking in momentum and there are concerns that uncertainty about the global economy could hurt exports.
(Reporting by Stanley White; Editing by Shri Navaratnam)