Japan's business activity down for the first time in 6 months - Breaking The News
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Japan's business activity down for the first time in 6 months

Economy
Christian Baha / NL

1 min read

EPA-EFE/FRANCK ROBICHON

Japan's service sector performance stood slightly below market expectations in August, with activity decreasing for the first time in six months, according to a report released by S&P Global on Tuesday.

The seasonally adjusted figure showed the Jibun Bank Japan Services Business Activity Index landing at 49.2 to stand below the neutral 50 and mark an overall downturn in the sector.

"August data signaled the second-weakest reading in the composite index so far this year, though the rate of deterioration was only mild. Of concern was the amount of new business received by private sector firms, which reduced for the first time in six months and pointed to further weaknesses to come," Economist at IHS Markit Usamah Bhatti said about the data.

dataservicespmi
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