The S&P Global Japan Manufacturing PMI was revised lower to 49.7 in August 2025 from a preliminary estimate of 49.9, though still above the final reading of 48.9 in July. The latest figure marked the thirteenth contraction in factory activity over the past 14 months, driven by a decline in output and a further drop in overall sales - including a sharp fall in foreign sales for the fifth consecutive month - amid the imposition of new US tariffs.