Japan's services activity expands at softer rate in July - Breaking The News
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Japan's services activity expands at softer rate in July

EPA/KIYOSHI OTA

Japan's service sector performance stood slightly below market expectations in July, according to data released by S&P Global on Thursday.

The seasonally adjusted figure showed the Jibun Bank Japan Services Business Activity Index landing at 53.8 to stand above the neutral 50 and mark an overall growth in the sector, despite the growth of activity and new business being the slowest in six months.

"Business confidence across the Japanese service sector remained strong in July, as firms hoped for a broad-based economic recovery and further relief from pandemic-related influences. That said, the degree of optimism slipped to a five-month low," the report noted.

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