Japan's manufacturing sector back to growth in May - Breaking The News
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Japan's manufacturing sector back to growth in May

Economy
Christian Baha / JR

1 min read

EPA/FRANCK ROBICHON

The activity in Japan's manufacturing sector saw a return to growth in May, with the Jibun Bank Manufacturing Purchasing Managers' Index (PMI) rising from April's 49.5 and coming in at 50.6, S&P Global said in its newest report.

The document underscored a general improvement in business conditions and increased confidence within the sector. It stressed that May observed the fastest strengthening in output levels in 2023 and the first rise since June 2022. Additionally, the report also warned about a further decline in purchases and a possible shortage of semiconductors. On the other hand, it noted generally improved access to materials.

"Hopes of a reduced squeeze on operating margins, alongside rising confidence regarding the broader economic outlook, underpinned the strongest output growth expectations among manufacturing firms since the start of 2022," S&P Global Market Intelligence Economics Director Tim Moore commented.

datamanufacturingpmi
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