Japan’s S&P Global Composite PMI fell to 52.4 in April 2026 from a final 53.0 in the prior month, flash data showed. It was the lowest reading since December despite marking the 13th straight month of private-sector expansion. Growth was tempered by a slowdown in services activity, which offset the strongest rise in manufacturing output since February 2014. New business rose modestly, with the pace picking up slightly from March, while foreign demand grew the least in four months. Employment continued to rise, extending a hiring streak of over 2-1/2 years, but backlogs of works increased for a fifth month. On prices, input cost inflation hit its highest since January 2023, driven by higher wages, raw materials, fuel, and energy costs, partly linked to Middle East tensions, and a weaker yen. Output prices rose at a record pace for the series. Finally, business confidence fell for a second month to its lowest since August 2020, as geopolitical uncertainty weighed on the outlook. source: S&P Global

Composite PMI in Japan decreased to 52.40 points in April from 53 points in March of 2026. Composite PMI in Japan averaged 50.44 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 decreased to 52.40 points in April from 53 points in March of 2026. Composite PMI in Japan is expected to be 50.80 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 and 52.00 points in 2028, according to our econometric models.


Components Last Previous Unit Reference
S&P Global Manufacturing PMI 54.90 51.60 points Apr 2026
S&P Global Services PMI 51.20 53.40 points Apr 2026

Related Last Previous Unit Reference
Bankruptcies 924.00 851.00 Companies Mar 2026
Tankan Large Manufacturers Index 17.00 16.00 points Mar 2026
BSI Large Manufacturing 3.80 4.70 percent Mar 2026
Capacity Utilization MoM 105.00 105.10 points Feb 2026
Car Production 576093.00 590810.00 Units Jan 2026
Car Registrations 265438.00 211362.00 Units Mar 2026
Cement Production 3330.00 3298.00 Thousands of Tonnes Feb 2026
Changes in Inventories -242.40 819.20 JPY Billion Dec 2025
Coincident Index 116.30 117.90 points Feb 2026
Composite Leading Indicator 100.25 100.17 points Mar 2026
Corporate Profits 30027.03 27538.53 JPY Billion Dec 2025
Eco Watchers Survey Current 42.20 48.90 points Mar 2026
Eco Watchers Survey Outlook 38.70 50.00 points Mar 2026
Industrial Production YoY 0.40 0.70 percent Feb 2026
Industrial Production MoM -2.00 4.30 percent Feb 2026
Leading Economic Index 112.40 112.10 Points Feb 2026
Machine Tool Orders YoY 193506.00 146784.00 JPY Million Mar 2026
Machinery Orders MoM 13.60 -5.50 percent Feb 2026
Manufacturing Production 0.30 0.70 percent Feb 2026
Mining Production -1.70 -6.10 percent Feb 2026
New Orders 1254.29 1270.29 JPY Billion Feb 2026
Capital Spending YoY 6.50 2.90 percent Dec 2025
Reuters Tankan Index 7.00 18.00 points Apr 2026
Tankan Small Manufacturers Index 7.00 6.00 points Mar 2026
Steel Production 6900.00 6400.00 Thousand Tonnes Mar 2026
Tankan Large All Industry Capex 3.30 12.60 percent Mar 2026
Tankan Large Manufacturing Outlook 14.00 15.00 points Mar 2026
Tankan Non-Manufacturing Outlook 29.00 28.00 points Mar 2026
Tertiary Industry Index MoM 106.30 106.70 points Feb 2026


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 Eases to 4-Month Low
Japan’s S&P Global Composite PMI fell to 52.4 in April 2026 from a final 53.0 in the prior month, flash data showed. It was the lowest reading since December despite marking the 13th straight month of private-sector expansion. Growth was tempered by a slowdown in services activity, which offset the strongest rise in manufacturing output since February 2014. New business rose modestly, with the pace picking up slightly from March, while foreign demand grew the least in four months. Employment continued to rise, extending a hiring streak of over 2-1/2 years, but backlogs of works increased for a fifth month. On prices, input cost inflation hit its highest since January 2023, driven by higher wages, raw materials, fuel, and energy costs, partly linked to Middle East tensions, and a weaker yen. Output prices rose at a record pace for the series. Finally, business confidence fell for a second month to its lowest since August 2020, as geopolitical uncertainty weighed on the outlook.
2026-04-23
Japan Composite PMI Revised Slightly Higher
Japan’s S&P Global Composite PMI Japan edged up to 53.0 in March 2026 from a flash estimate of 52.9, but eased from February’s 33-month high of 53.9. The latest reading marked a 12th consecutive month of private sector expansion, topping market forecasts of 52.5, though growth slowed to its weakest pace since December. Output growth moderated across both manufacturing and services, while total new orders rose at the softest pace so far this year. New export orders also expanded only modestly, cooling from February’s eight-year high. Employment growth softened to a four-month low, reflecting a slower buildup in backlogs of work. On the cost side, input price inflation accelerated to an 11-month high, but firms raised selling prices at a more subdued pace. Meanwhile, business confidence slipped to its lowest level in nearly a year, pointing to a more cautious outlook ahead.
2026-04-03
Japan Composite PMI Dips to 3-Month Low
Japan’s S&P Global Composite PMI slipped to 52.9 in March from a final 53.9 in February, flash data showed. While marking a 12th straight month of expansion in private sector business, the latest result was the weakest pace since December. Both manufacturing output and services activity lost momentum, with new orders rising at the weakest rate in three months and export demand expanding only modestly. Employment growth eased to a four-month low, while capacity pressures persisted, though backlogs rose less sharply than February’s record pace. On inflation, input costs climbed at the fastest rate in nearly a year, linked to supply chain disruptions and higher energy prices from the Middle East conflict. Yet output price inflation softened to a three-month low. Finally, business sentiment fell to an 11-month low amid geopolitical uncertainty, driven by weaker expectations in the service sector, while manufacturers remained relatively optimistic.
2026-03-24