日本PMI综合指数升至52.0，服务业领先，制造业稳定。日本11月公布的PMI为经济提供了一个谨慎的建设性信号，综合指数从51.5升至52.0，这是三个月来的最佳读数，也是2024年8月以来的共同最高值。制造业活动仍在收缩，但从48.2升至48.8。

Japan PMI composite rises to 52.0 as services lead and manufacturing stabilizes.Japan's November flash PMIs offered a cautiously constructive signal for the economy, with the Composite Index rising from 51.5 to 52.0 — the best reading in three months and joint-highest since August 2024. Manufacturing activity remained in contraction but improved to 48.8 from 48.2.

回顾-尽管美国经济持续疲软，但日本10月出口继续反弹。10月，日本出口连续第二个月增长，这表明在最近美国需求因关税而疲软后，日本出口出现了部分复苏。

Recap - Japan export rebound continues in October despite lingering U.S. weakness.Japan's exports rose for a second straight month in October, signalling a partial recovery after recent tariff-driven weakness in U.S. demand.

日本片山：随着政府和日本央行努力稳定通胀，债务比率将略有下降。日本片山：随着政府和日本央行努力稳定通胀，债务比率将略有下降

Japan's Katayama: Debt ratio to fall slightly as government and BoJ work toward stable inflation.Japan's Katayama: Debt ratio to fall slightly as government and BoJ work toward stable inflation

日本央行行长上田表示，日元疲软可能会影响潜在通胀。日本央行行长上田和夫周五表示，央行必须注意日元疲软可能通过推高进口成本和整体价格来影响潜在通胀的可能性。

BOJ chief Ueda says weak yen could affect underlying inflation.Bank of Japan Governor Kazuo Ueda said on Friday the central bank must be mindful of the chance the weak yen could affect underlying inflation by pushing up import costs and broader prices.