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Japan's Private Sector Activity Slows in May, Final PMI Shows

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Japanese private sector activity slowed in May, with a stagnation in the services sector, S&P Global showed Wednesday.

The seasonally adjusted S&P Global Japan Composite PMI Output Index slipped to 51.1, compared with 52.2 from the previous month, and was in line with the flash estimate issued on May 21.

The latest print also met the consensus estimate, according to Investing.com.

Meanwhile, the services PMI slipped to a neutral reading of 50.0 in May, compared with 51.0 in April. It was in line with the consensus forecast of 50.0.

On the manufacturing side, the PMI stood at 54.5, lower than the previous month's 51-month high of 55.1, and the consensus estimate of 54.5.

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