S&P Global: Japan service activity up in Nov. ’24

The headline au Jibun Bank Japan Services Business Activity Index rose to 50.5 in November 2024 from 49.7 in October, indicating a slight improvement in activity in the Japanese service sector.

Firms typically credited the increase to increased demand. Finance & Insurance was the only sector to experience significant growth in November, while Consumer Services was the only sector to see a decline.

Meanwhile, au Jibun Bank Japan Composite PMI Output Index rose to 50.1 from 49.6 in October, indicating a stabilisation in Japanese private sector output after a slight decline, as per S&P Global report.

The most recent reading showed a slight increase in services business activity while manufacturing production continued to decline. New business inflows stabilised, driven by the services sector.

Attribution: S&P Global report

Subediting: M. S. Salama