20.02.202601:02:25UTC+00Japan 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, driven by firm domestic and external demand. Key sub-indices for factory output and new orders continued to strengthen, with firms frequently citing solid underlying demand and the positive impact of new product launches. Robust overseas demand fueled the fastest increase in new export orders in eight years. Although the pace of job creation slowed from January’s multi-year high, overall employment growth remained solid. At the same time, price data indicated a slightly sharper rise in average input costs across Japan’s private sector in February. Looking ahead, Japanese manufacturers reported greater optimism about the 12‑month business outlook, expecting that firmer demand conditions, rising demand for semiconductors and AI-related technologies, and ongoing product rollouts will support further expansion.