Final readings for last month:

Services 46.5, 16th consecutive month in contraction

  • preliminary 45.7, vs prior 49.5

Composite 48.8

  • preliminary 48.1 vs prior 51.0

The 'key findings' from the report ... not encouraging but probably unsurprising in the midst of prolonged states of emergencies in many regions of Japan:

  • Quicker contractions in output and new business
  • Employment rises at softest pace since February
  • Business optimism weakens to four-month low

Released at the same time was the Hong Kong May PMI:


  • from 50.3 in April