The S&P Global Japan Manufacturing PMI rose to 53 in February 2026 from 51.5 in January, above the initial estimate of 52.8, as companies signaled a stronger recovery in business conditions, with output, new orders, and employment growth all accelerating since January. This marked the strongest manufacturing expansion since May 2022. Output grew at a solid pace, the fastest in just over four years, with firms often citing rising new business as a key driver. Total new orders also expanded robustly, the fastest since January 2022. Employment across Japan’s manufacturing sector increased further in February, extending the current streak of job creation to 15 months. Meanwhile, higher costs for raw materials, labor, and transport pushed average input costs higher during the month. Looking ahead, the 12-month outlook rebounded to its highest level since June 2024, with firms optimistic that improved global demand and new product launches will continue to support growth. source: S&P Global

Manufacturing PMI in Japan increased to 53 points in February from 51.50 points in January of 2026. Manufacturing PMI in Japan averaged 50.05 points from 2008 until 2026, reaching an all time high of 56.20 points in January of 2014 and a record low of 29.60 points in February of 2009. This page provides the latest reported value for - Japan Manufacturing PMI - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Manufacturing PMI in Japan increased to 53 points in February from 51.50 points in January of 2026. Manufacturing PMI in Japan is expected to be 51.00 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Japan Manufacturing PMI is projected to trend around 52.00 points in 2027, according to our econometric models.



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 4.70 3.80 percent Dec 2025
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 3998.00 3945.00 Thousands of Tonnes Dec 2025
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 27538.53 35833.77 JPY Billion Sep 2025
Corruption Index 71.00 71.00 Points Dec 2025
Corruption Rank 18.00 20.00 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 Manufacturing PMI
The S&P Global Japan Manufacturing PMI is a monthly indicator of manufacturing sector performance, based on survey responses from a panel of approximately 400 manufacturers. Survey participants report changes compared to the previous month across several business variables. Each response is used to calculate a diffusion index ranging from 0 to 100, where a reading above 50 signals expansion, and below 50 indicates contraction. The headline figure, known as the Purchasing Managers’ Index™ (PMI), is a weighted composite of five key components: New Orders (30%), Output (25%), Employment (20%), Suppliers’ Delivery Times (15%), and Stocks of Purchases (10%). To ensure consistency in directional movement, the Suppliers’ Delivery Times Index is inverted when incorporated into the overall PMI.

News Stream
Japan Manufacturing PMI Revised Higher
The S&P Global Japan Manufacturing PMI rose to 53 in February 2026 from 51.5 in January, above the initial estimate of 52.8, as companies signaled a stronger recovery in business conditions, with output, new orders, and employment growth all accelerating since January. This marked the strongest manufacturing expansion since May 2022. Output grew at a solid pace, the fastest in just over four years, with firms often citing rising new business as a key driver. Total new orders also expanded robustly, the fastest since January 2022. Employment across Japan’s manufacturing sector increased further in February, extending the current streak of job creation to 15 months. Meanwhile, higher costs for raw materials, labor, and transport pushed average input costs higher during the month. Looking ahead, the 12-month outlook rebounded to its highest level since June 2024, with firms optimistic that improved global demand and new product launches will continue to support growth.
2026-03-02
Japan Manufacturing PMI Hits Near 4-Year High
The S&P Global Japan Manufacturing PMI rose to 52.8 in February 2026 from 51.5 in January, marking the strongest expansion since May 2022, supported by firm domestic and external demand. Key sub-indexes for factory output and new orders both extended their uptrends in February, with firms frequently citing solid underlying demand and the favorable impact of new product launches. Robust overseas demand drove the fastest increase in new export orders in eight years. While the pace of job creation eased from January’s multi-year high, employment growth remained solid overall. Meanwhile, price data showed a slightly sharper rise in average input costs across Japan’s private sector in February. Looking ahead, Japanese manufacturers expressed greater optimism about the 12-month business outlook, anticipating that firmer demand conditions, rising demand for semiconductors and AI-related technologies, and continued product rollouts will underpin further expansion.
2026-02-20
Japan Manufacturing Growth Confirmed at Over 3-Year High
The S&P Global Japan Manufacturing PMI stood at 51.5 in January 2026, unchanged from the preliminary reading and up from December’s final figure of 50. This marked the first expansion in factory activity since last June, with the pace of improvement the strongest since August 2022, supported by the first upturn in new orders since May 2023 and to the greatest extent in nearly four years. Foreign sales rose for the first time since February 2022. Output growth was the strongest since April 2022, while employment rose at the fastest rate in 40 months. Purchasing activity increased at the fastest pace in three-and-a-half years, while vendor performance deteriorated. On the price front, input costs accelerated to their highest level in nearly a year, driven by higher raw material and labor costs amid a weak yen. Output price inflation rose at the fastest pace in over a year and a half. Finally, business sentiment weakened to a three-month low amid concerns over inflation.
2026-02-02