Japan's services activity expands in May - Breaking The News
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Japan's services activity expands in May

Economy
Christian Baha / NL

1 min read

EPA-EFE/FRANCK ROBICHON

Japan's service sector surprised market expectations in May, remaining in the expansion territory for the second month in a row, according to a report released by the IHS Markit on Tuesday.

The seasonally adjusted figure showed the Jibun Bank Japan Services Business Activity Index landing at 51.7 to stand above the neutral 50 and mark an overall growth in the sector.

"Flash PMI data indicated that activity at Japanese private sector businesses remained in expansion territory for the third consecutive month midway through the second quarter of 2022," Economist at IHS Markit Usamah Bhatti said. "Moreover, the rate of growth quickened from April to the sharpest seen since last December, led by the strongest rise in services activity for five months."

dataservicespmi
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