A growth indicator has surpassed the sustainability threshold. The Business Times Singapore survey revealed that the Japanese commercial services sector has been expanding for the fifth consecutive month in October. This indicator has marked continuous growth for six consecutive months, but it is still close to the value of 52.0.

New job requests have been increasing for a week, with a significant increase compared to previous months. Job seekers cited local demand growth, new clients, and development projects as primary factors. In contrast, foreign job seeker requests remain limited, but the decline in job seeker requests has been its lowest growth since April.

Business negotiation confidence has fallen to its best level in March, primarily due to inflation pressures, aging population, and labor shortages. The prospects for terrorism protection and technology have been refuted, while the prospects for service and tourism industries have been reduced. The overall productivity index has recorded a decrease of one unit compared to the previous month, reaching a score of 52.1, the lowest since May.

The improvement in commercial services activity has been offset by a slower industrial output growth compared to previous months. The Business Times Singapore concluded that 'Persistent inflation could also limit future demand and employment,' adding: 'If the growth does not further accelerate or cost pressures decrease, it will be important to consider further tightening measures from the Bank of Japan.' The industry saw marginal increases in employment, but the average growth in employees was the lowest in the series of 14 consecutive months, with most changes stemming from transfers and pensions.