Japan's service sector saw a softer contraction in business activity, with the figure dropping at the slowest pace in three months, according to a report released by the IHS Markit on Thursday.
The seasonally adjusted figure showed the Jibun Bank Japan Services Business Activity Index landing at 48.7 to stand below the neutral 50, but above the figure of 44.2 seen in February.
"“Despite falling infection rates caused by the Omicron variant, Japanese private sector companies reported softer optimism regarding the year-ahead outlook for activity in March," Economist at IHS Markit Usamah Bhatti said.
