FX.co ★ Japan Composite PMI Revised Upward

Japan’s S&P Global Composite PMI Business Activity Index was revised up to 52.8 in June 2026 from a flash estimate of 52.5, the highest reading since March, and extending the expansion in private-sector activity to a 15th straight month. The upward revision reflected stronger business activity among service providers, alongside a continued recovery in manufacturing output. New orders increased at the fastest rate since February, driven mainly by domestic demand, while foreign demand grew only slightly. Firms also recorded the sharpest rise in backlogs of work in four months, leading to a marginally faster, though still modest, pace of job creation. On the pricing side, cost pressures intensified, with input prices climbing at the quickest rate in four years amid higher labor, raw material, and operating costs. Companies continued to pass some of these higher costs on to customers, but output price inflation eased from May’s record high, even as it remained elevated overall.