Japan’s services sector expanded for a fifth month in August, with the S&P Global Services PMI easing to 53.1 from July’s 53.6 but remaining well above the 50.0 growth threshold, an official statement showed on Wednesday.
The latest PMI data indicated that growth momentum remained strong across Japan’s service sector in August, with firms signalling solid increases in activity and new orders,” Annabel Fiddes, Economics Associate Director at S&P Global Market Intelligence, said.
Transport and storage led growth among Japan’s service sub-sectors in August, followed by information and communication, while real estate and business services saw the weakest gains.
Overall activity was driven by strong new business inflows, with total orders rising at the fastest pace since February, despite foreign demand falling at the sharpest rate in over three years.
Attribution: Amwal Al Ghad English
Subediting: Y.Yasser
