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21.05.202600:30:00UTC+00Japan’s Manufacturing Momentum Eases Slightly as S&P Global PMI Dips to 54.5 in May

Japan’s manufacturing sector continued to expand in May 2026, though at a slightly slower pace, as the S&P Global Manufacturing PMI edged down to 54.5 from April’s 55.1. The latest reading, updated on 21 May 2026, indicates that while growth remains solidly in expansionary territory, the strong momentum seen in April has moderated.

The marginal decline suggests that manufacturing conditions are still improving, but at a less rapid rate than in the previous month. With the PMI remaining comfortably above the 50-point threshold that separates expansion from contraction, May’s data points to ongoing resilience in Japan’s industrial activity, even as the peak of recent growth may have passed.

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