Japan's service sector performance stood slightly below market expectations in July, with activity increasing at the softest pace in four months, according to a report released by the IHS Markit on Wednesday.
The seasonally adjusted figure showed the Jibun Bank Japan Services Business Activity Index landing at 50.3 to stand above the neutral 50 and mark an overall growth in the sector.
"The Japanese services economy signalled that demand conditions had broadly stagnated at the start of the second half of the year as the boost from the wider reopening of the economy waned," Economist at IHS Markit Usamah Bhatti said about the data.
