FX.co ★ Japan’s Manufacturing Momentum Builds as S&P Global PMI Rises to 51.5 in January

Japan’s manufacturing sector showed signs of strengthening at the start of 2026, with the S&P Global Manufacturing PMI edging up to 51.5 in January from a previous reading of 50.0. The latest figure, updated on 2 February 2026, indicates a firmer expansion in manufacturing activity, moving further above the neutral 50.0 threshold that separates growth from contraction.

The improvement in the PMI suggests that operating conditions for Japanese manufacturers are becoming more favorable compared with the previous period. While detailed component data were not provided, the higher headline index points to a broad-based uptick in the sector’s overall health during January. Investors and policymakers will be watching upcoming releases closely to see whether this momentum can be sustained over the coming months.