Mumbai, June 1 -- Japanese manufacturers continued to expand production in May, though growth eased slightly from April's peak. The headline S&P Global Japan Manufacturing PMI slipped from 55.1 in April to 54.5 in May, still signaling a marked improvement in business conditions for the fifth consecutive month.
Output rose solidly, supported by stronger sales and inventory building amid supply chain disruptions linked to the Middle East war. New orders grew at a softer pace, but export demand surged at the fastest rate in five years. Intermediate goods makers led the upturn.
Purchasing activity increased at the quickest rate in four years as firms sought to safeguard against shortages and price hikes. However, input delivery times lengthen...