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Data from FMP. Forecasts by Sigmanomics Forecast Engine.
JapanJapan S&P Global Services PMI fell to 50 in May 2026
FMPMonthlyReleased June 2026
Japan S&P Global Services PMI fell to 50 in May 2026, released June 2026, down 1 from April's 51 reading. The reading matched the 50 consensus.
Latest Release
50.000000
Actual
50.000000
Consensus
51.000000
Previous
Median Absolute Error
±0.36
across last 12 releases
Last Call
Jun 2026
Predicted: 50.2
Actual: 50
Error: +0.2
Sigmacast Σ-direction model: consensus + ½ × mean(surprise, trailing 90d).
CORRELATED SYMBOLS— markets that historically move with this indicator
| Symbol | Direction | Correlation | Asset Class | Signal Bias | Action |
|---|---|---|---|---|---|
| EUR/JPY | ▲ Direct | +0.60 | FOREX | Bullish EUR | → View |
| GBP/JPY | ▲ Direct | +0.58 | FOREX | Bullish GBP | → View |
| XAU/USD | ▲ Direct | +0.49 | COMMODITIES | Bullish XAU | → View |
| AUD/JPY | ▲ Direct | +0.41 | FOREX | Bullish AUD | → View |
| Nikkei 225 | ▼ Inverse | −0.32 | INDEX | Bearish Nikkei 225 | → View |
Correlation based on 12-month rolling window. Click any symbol to view its Sigmanomics forecast page.
THE RELEASE
S&P Global Services PMI (Japan) was reported at 50.00 in May 2026. This matched the market consensus of 50.00 exactly. The reading fell from the previous value of 51.00. Over the past 12 months, the indicator has averaged 52.72, ranging from 50.00 to 53.80 across 14 releases.
WHY IT MATTERS
The trailing three releases averaged 51.13, down from the prior three at 53.47.
THE MODEL'S TAKE
Historically, this indicator is positively correlated with EUR/JPY (Bullish EUR). A secondary relationship exists with GBP/JPY, positively correlated (Bullish GBP). Over the last 12 releases, the Sigmacast model's median absolute error is 0.36.
WHAT TO WATCH NEXT
The next release is scheduled for June 23, 2026. Same-country events in the next 14 days include Monetary Policy Statement (Jun 16) and BoJ Interest Rate Decision (Jun 16).
Auto-generated from current model state · Refreshes on each release · Last update June 2026.
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S&P Global Services PMI - JP
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About S&P Global Services PMI — Japan
DEFINITION
The S&P Global Services PMI is a widely recognized financial indicator that measures the performance of the global services sector. It provides valuable insights into the health and growth of the services industry, which accounts for a significant portion of the global economy. This indicator is based on a monthly survey of purchasing managers in key service sectors, providing timely and reliable data on business activity, new orders, employment, and prices. The S&P Global Services PMI is a crucial tool for investors, businesses, and policymakers in making informed decisions and assessing the overall economic outlook.
WHY THIS INDICATOR MATTERS
Sentiment surveys are forward-looking inputs that often lead hard data on output and hiring. Sharp swings can drive cross-asset repricing. Surprises against consensus can drive short-term moves, particularly when the print breaks an established trend. Released monthly.
WHAT CHANGED THIS MONTH
Latest reading (May 2026): actual 50, consensus 50. Prior reading (May 2026): 50. Before that (Apr 2026): 51.
WHAT'S NEXT
Sigmacast's 1-month forecast points to a similar reading versus the latest print, with the 3-month outlook reinforcing that direction. Both horizons are aligned bearish for this indicator, suggesting a consistent trend signal. Trend-driven dynamics are the primary headwind in the current projection. This indicator correlates most strongly with EUR/JPY (Bullish EUR, r=0.60) — a useful reference for forex-focused traders.