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

Economy
Christian Baha / KA

1 min read

EPA-EFE/KIMIMASA MAYAMA

Japan's service sector activity rose above the neutral 50 mark in May, according to a preliminary report released by S&P Global on Thursday.

The Jibun Bank Flash Japan Services Business Activity Index dropped from April's figure of 52.4 to 50.8, marking a back-to-back expansion of the sector, albeit a marginal one, mostly due to a slowdown in client demand. Meanwhile, the composite PMI dropped from 51.2 in April to 49.8.

"Cost pressures, a source of concern for many firms, remained elevated in May. However, there were some tentative signs that input price inflation is cooling, with the latest data showing the slowest rise in operating expenses in over a year. This translated into a softer uptick in selling prices," Annabel Fiddes, Economics Associate Director at S&P Global Market Intelligence, said.

dataservicespmi
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