Flash PMIs May for Japan
Manufacturing 52.5 vs. prior 53.6
Services 45.7, vs prior 49.5
Composite 48.1 vs prior 51.0
Services hit particularly hard by the restrictions imposed under states of emergency in many prefectures.
Comments from IHS Markit:
- Output fell at the quickest pace for four months
- contraction in new business inflows was the fastest since February
- Survey members widely attributed the deterioration in business conditions to a resurgence in COVID-19 cases and the reimposition of state of emergency measures
- employment levels rose for the fourth consecutive month
- another sharp rise in input costs across the Japanese private sector