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:
52.5
- from 50.3 in April