FX.co ★ Japan Manufacturing PMI Revised Downward

The S&P Global Japan Manufacturing PMI for November 2025 was marginally adjusted downward to 48.7 from the preliminary reading of 48.8, following a final figure of 48.2 in October, the lowest in 19 months. This recent data indicates the fifth straight month of contraction in manufacturing activity. However, it represents the mildest decline since August, hinting at a trend toward stabilization, despite ongoing declines in new orders due to restrained demand conditions.