30 JULY 2025AlCircle.com
With services PMI at 53.5 in July, can Japan rely on domestic demand amid export struggles?
Edited by : Aranya Mondal
4 min read
A trade agreement between Japan and the US in July 2025 provided partial tariff relief, but ongoing challenges particularly in aluminium and auto parts continued to weigh on Japan’s manufacturing output. While services accelerated domestic demand, the country’s industrial base remained under pressure amid evolving global trade dynamics.
The S&P Global Japan Manufacturing Purchasing Managers’ Index (PMI) fell to 48.8 in July, dipping below the crucial 50-point mark that separates growth from contraction. This marked a reversal from June’s 50.1, the first expansion reading in over a year.
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