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Monday, June 21, 2021

Jibun Bank / Markit preliminary PMIs for May: Manufacturing 52.5 (prior 53.6)

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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

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