Japan’s S&P Global Composite PMI rose to 53.9 in February 2026, slightly higher than the preliminary estimates of 53.8, and picking up from 53.1 in January, marking the fastest expansion in overall private sector activity since May 2023. Growth was supported by a solid gain in services activity alongside a notably quicker rise in manufacturing output. Overall new orders increased at the strongest pace in 33 months, while new export business expanded at the fastest rate in eight years, driven by stronger external demand for manufactured goods.Employment continued to rise at a solid but slightly slower pace, and backlogs of work accumulated amid rising workloads. Input costs climbed sharply, and selling prices increased to the greatest extent since May 2024 as firms passed on higher expenses to customers. source: S&P Global

Composite PMI in Japan increased to 53.90 points in February from 53.10 points in January of 2026. Composite PMI in Japan averaged 50.41 points from 2013 until 2026, reaching an all time high of 54.30 points in May of 2023 and a record low of 25.80 points in April of 2020. This page provides - Japan Composite Pmi- actual values, historical data, forecast, chart, statistics, economic calendar and news.

Composite PMI in Japan increased to 53.90 points in February from 53.10 points in January of 2026. Composite PMI in Japan is expected to be 51.30 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Japan Composite PMI is projected to trend around 51.10 points in 2027, according to our econometric models.


Components Last Previous Unit Reference
S&P Global Manufacturing PMI 53.00 51.50 points Feb 2026
S&P Global Services PMI 53.80 53.70 points Feb 2026

Related Last Previous Unit Reference
Bankruptcies 851.00 887.00 Companies Feb 2026
Tankan Large Manufacturers Index 15.00 14.00 points Dec 2025
BSI Large Manufacturing 3.80 4.70 percent Mar 2026
Capacity Utilization MoM 101.30 100.00 points Dec 2025
Car Production 590810.00 587348.00 Units Dec 2025
Car Registrations 211362.00 200047.00 Units Feb 2026
Cement Production 3298.00 3998.00 Thousands of Tonnes Jan 2026
Changes in Inventories -242.40 819.20 JPY Billion Dec 2025
Coincident Index 116.80 114.30 points Jan 2026
Composite Leading Indicator 100.12 100.12 points Feb 2026
Corporate Profits 30027.03 27538.53 JPY Billion Dec 2025
Eco Watchers Survey Current 48.90 47.60 points Feb 2026
Eco Watchers Survey Outlook 50.00 50.10 points Feb 2026
Industrial Production YoY 2.30 2.60 percent Jan 2026
Industrial Production MoM 2.20 -0.10 percent Jan 2026
Leading Economic Index 112.40 110.30 Points Jan 2026
Machine Tool Orders YoY 146784.00 145587.00 JPY Million Feb 2026
Machinery Orders MoM 19.10 -11.00 percent Dec 2025
Manufacturing Production 2.30 2.60 percent Jan 2026
Mining Production -6.10 -4.80 percent Jan 2026
New Orders 1253.24 1019.14 JPY Billion Dec 2025
Capital Spending YoY 6.50 2.90 percent Dec 2025
Reuters Tankan Index 13.00 7.00 points Feb 2026
Tankan Small Manufacturers Index 6.00 1.00 points Dec 2025
Steel Production 6800.00 6600.00 Thousand Tonnes Jan 2026
Tankan Large All Industry Capex 12.60 12.50 percent Dec 2025
Tankan Large Manufacturing Outlook 15.00 12.00 points Dec 2025
Tankan Non-Manufacturing Outlook 28.00 28.00 points Dec 2025
Tertiary Industry Index MoM 104.80 105.50 points Dec 2025


Japan Composite PMI
The S&P Global Japan Composite PMI Output Index is a key indicator of overall private sector business activity in Japan. It is calculated as a weighted average of the Manufacturing Output Index and the Services Business Activity Index, with weights reflecting the relative size of each sector based on official GDP data. The index draws on survey responses from a representative panel of approximately 800 companies across the manufacturing and services sectors. Although often referred to as the ‘Composite PMI’, this index should not be confused with the headline Manufacturing PMI, as it uniquely captures output trends across both sectors. The Composite Output Index tracks key variables including sales, new orders, employment, inventories, and prices. It is presented as a diffusion index ranging from 0 to 100, where a reading above 50 signals overall growth compared to the previous month, and a reading below 50 indicates contraction.

News Stream
Japan Composite PMI Revised Slightly Higher
Japan’s S&P Global Composite PMI rose to 53.9 in February 2026, slightly higher than the preliminary estimates of 53.8, and picking up from 53.1 in January, marking the fastest expansion in overall private sector activity since May 2023. Growth was supported by a solid gain in services activity alongside a notably quicker rise in manufacturing output. Overall new orders increased at the strongest pace in 33 months, while new export business expanded at the fastest rate in eight years, driven by stronger external demand for manufactured goods.Employment continued to rise at a solid but slightly slower pace, and backlogs of work accumulated amid rising workloads. Input costs climbed sharply, and selling prices increased to the greatest extent since May 2024 as firms passed on higher expenses to customers.
2026-03-04
Japan Composite PMI Hits 33-Month High
Japan’s S&P Global Composite PMI rose to 53.8 in February 2026 from a final 53.1 in the previous month, flash data showed. It marked the highest level since May 2023, driven by faster growth in both manufacturing output and services activity. Overall sales rose at the quickest pace in nearly three years, while new export orders expanded at the strongest rate in eight years, reflecting a sustained rebound in goods demand. Employment continued to increase at a solid pace, though slightly easing from January’s multi-year high. Backlogs of work accumulated at the fastest rate since composite records began in September 2007, underscoring capacity pressures. On the price front, both input costs and output charges rose at slightly faster rates. Looking ahead, business confidence reached a 15-month high, supported by new product launches, stronger tech demand, and the recent landslide election victory of the Takaichi administration.
2026-02-20
Japan Composite PMI Revised Higher
Japan’s S&P Global Composite PMI rose to 53.1 in January 2026, above the flash estimate of 52.8 and up from 51.1 in December. The latest reading marked the 11th straight month of private-sector expansion and the fastest growth pace since May 2023. Momentum was driven by a stronger pickup in services activity alongside a renewed increase in factory output. New orders expanded at the quickest rate since May 2024, reflecting broad-based gains in demand for both goods and services. Export orders also returned to growth for the first time since last March and at the strongest pace in more than four years. Firms continued to raise staffing levels at a solid clip as order backlogs accumulated. While overall cost pressures eased, selling price inflation accelerated to its fastest rate in over 18 months.
2026-02-04