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Japan Manufacturing PMI

Last Release
May 31, 2024
Actual
50.5
Units In
Points
Previous
49.6
Frequency
Monthly
Next Release
N/A
Time to Release
N/A
Highest
Lowest
Average
Date Range
Source
56.2
Jan 2014
29.6
Feb 2009
50.11 Points2008-2024Markit Economics
The Jibun Bank Japan Manufacturing PMI® is compiled by IHS Markit from responses to monthly questionnaires sent to purchasing managers in a panel of around 400 manufacturers. The panel is stratified by detailed sector and company workforce size, based on contributions to GDP. Survey responses indicate the direction of change compared to the previous month. A diffusion index is calculated for each survey variable. The index is the sum of the percentage of ‘higher’ responses and half the percentage of ‘unchanged’ responses. The indices vary between 0 and 100, with a reading above 50 indicating an overall increase compared to the previous month, and below 50 an overall decrease. The PMI is a weighted average of the following five indices: New Orders (30%), Output (25%), Employment (20%), Suppliers’ Delivery Times (15%) and Stocks of Purchases (10%). For the PMI calculation the Suppliers’ Delivery Times Index is inverted so that it moves in a comparable direction to the other indices.

Latest Updates

The au Jibun Bank Japan Manufacturing PMI revised lower to 50.4 in May 2024 from 50.5 in the preliminary estimates and after 49.6 in the previous month, pointing to the first expansion since May 2023. It also marked the highest reading in 12 months due to a renewed growth in pre-production inventories and broadly stable volumes of new orders and production. Foreign demand fell modestly due to weak demand from China, Europe, North America, and Vietnam. Employment increased for the third straight month alongside a rise in capacity to facilitate the clearing of pending workloads. Purchasing activity declined modestly, while delivery times were broadly stable. On prices, input accelerated to the highest in 13 months amid higher labor, materials, and transportation costs and the weakness in exchange rates. As a result, output price inflation rose to a year high. Finally, business sentiment weakened slightly but remained above the long-run trend.

Japan Manufacturing PMI History

Last 12 readings

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