Japan Composite PMI Slows to 52.3 in September, Lowest Since May
3▲0 ▼0Impact / 5
Japan's private sector expanded for an 18th consecutive month in September 2026, but momentum cooled to its weakest since May as the S&P Global Composite PMI Business Activity Index eased to 52.3 from August's 53.5 and came in below the flash estimate of 52.5. Within that composite, the S&P Global Services PMI Business Activity Index fell to 51.3 in September from 52.5 in August, also below the flash reading of 51.6 and beneath the 2026 year-to-date average. The slowdown reflected softer growth in new orders, weighed down in part by operational disruptions from the Kumamoto earthquake and a continued steep decline in export orders. In contrast to the softer domestic data, the Nikkei 225 jumped more than 2% toward 70,000 on Monday, reaching a three-month high as weaker-than-expected US jobs data eased pressure on the Federal Reserve to raise interest rates further, while the Japanese yen was little changed around 157.8 per dollar.