Japan Manufacturing PMI for May 53.3 (prelim was 53.2, prior 53.5)

The flash reading is here:

• Japan preliminary Manufacturing PMI for May 53.2 (prior 53.5)

From the report. China problems, supply chain issues, high costs - none of this is surprising. The result is still a decent performance though:

• "Japanese manufacturers noted a softer improvement in the health of the sector for the second successive month in May. While pointing to a solid improvement overall, the latest Manufacturing PMI was the lowest recorded since February. Both output and new orders rose at softer rates, with the latter rising at the weakest pace for eight months amid sustained supply chain disruption and raw material price hikes.
• "Disruptions were exacerbated by renewed lockdown restrictions across China, and contributed to a further sharp lengthening of suppliers’ delivery times. The deterioration in vendor performance was the joint-quickest since last October and robust overall. Firms cited difficulties in sourcing and receiving raw materials as a key factor behind a steep expansion in safety stocks, with manufacturers indicating the second-fastest rise in pre-production inventories in the survey history.
• "Material shortages and logistical issues were also partly behind a sustained surge in costs. Average input prices rose at a substantial rate that was the fourth-highest on record. Firms widely attributed the rise to higher material and fuel costs, especially for oil and semiconductors.
• "Confidence regarding the year-ahead outlook strengthened however, underpinned by hopes that an end to the pandemic and Russia-Ukraine conflict would induce a broad recovery in demand and supply chains. This is in line with an estimated 2.9% increase in industrial production in 2022."

Bolding above is mine.

jpy JPY The Japanese yen (JPY) is the official currency of Japan and at the time of writing is the third most-traded currency in the world behind only the US dollar and euro.The JPY is used extensively as a reserve currency and is relied upon by forex traders as a safe haven currency.Originally implemented in 1871, the JPY has had a long history and has survived multiple world wars and other events. This was followed by the creation of the Bank of Japan (BoJ) in 1882 and the full oversight of the JPY by The Japanese yen (JPY) is the official currency of Japan and at the time of writing is the third most-traded currency in the world behind only the US dollar and euro.The JPY is used extensively as a reserve currency and is relied upon by forex traders as a safe haven currency.Originally implemented in 1871, the JPY has had a long history and has survived multiple world wars and other events. This was followed by the creation of the Bank of Japan (BoJ) in 1882 and the full oversight of the JPY by Read this Term