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Japanese PMI at four-month low

Japanese manufacturing fell to a four-month low in November, according to the Nomura/­JMMA Japan Manufacturing Purchasing Managers Index (PMI) released today. The index fell to 52.3 in November from 54.3 in October. The output level of 54.4 was the lowest in five months. The figure 50 is the mark that separates growth from contraction.