Japan’s manufacturing activity in May rose for the first time in seven months, while the service-sector activity reached a record growth.
According to the survey data on Tuesday, the au Jibun Bank flash Japan manufacturing purchasing managers’ index (PMI) hit a seasonally adjusted 50.8 in May, up from 49.5 a month prior. It is the first positive data for Japan since October as the recovery post Covid pandemic spurred business conditions.
Meanwhile, the au Jibun Bank flash services PMI continued to report strong growth in May to a record seasonally adjusted 56.3, up from 55.4 in April.
As the country is recovering from the Covid-19 pandemic that forced it to close its border, Japan last week recorded nearly 2 million visitors, its record high in the post-pandemic era.