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The manufacturing sector in Japan climbed back into expansion territory in May, the latest survey from Jibun Bank revealed on Thursday with a manufacturing PMI score of 50.6.
That's up from 49.5, and it moves above the boom-or-bust line of 50 that separates expansion from contraction.
May data pointed to a rise in output levels for the first time since June 2022 and, although only marginal, the rate of expansion was the fastest for one year. Renewed growth of manufacturing production was attributed to improving domestic economic conditions and a subsequent turnaround in client spending.
Total new work increased at the fastest pace since April 2022, albeit only marginally overall. Greater business and consumer confidence had helped to lift overall customer demand, according to survey respondents.
