Japan's manufacturing sector contracted in October for the eighth straight month, according to the latest survey from Nomura Holdings and the JMMA. However, machinery maker Komatsu – makers of Komatsu Off Road Trucks - jumped 10.5%, while Canon surged 9.9%, Honda Motor plunged 13.0%, Sony fell 2.8%, Toyota Motor shed 4.4%. Mazda slumped 13.8% after it lowered its profit outlook.
The group's Purchasing Managers Index dropped to a seven year low of 42.2 in October, lower than the 50.0 reading that separates contraction in the sector from expansion. The accompanying PMI industrial production index fell in October to 39.7, also the lowest since December 2001.
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