Japan's Composite PMI grew in August to reach 52.6 from July's reading of 52.2, the au Jibun Bank's preliminary report released on the S&P Global website showed on Wednesday.
In the reported month, the Flash Services Business Activity Index also increased to stand at 54.3, up from 53.8 registered in July. The Flash Manufacturing Output Index remained in the contraction territory but rose slightly from July's 48.9 to August's 49.
"Growth across the Japanese private sector picked up pace during August, with the service sector again driving the overall expansion amid ongoing improvements in new orders. Manufacturing continued to disappoint, however, again failing to generate growth. Nevertheless, the rates of reduction in output and new orders were less pronounced than in July," Economics Director at S&P Global Market Intelligence Andrew Harker commented.
