Japan service sector activity slows from 5-month high, PMI shows
New export business fell at the second-sharpest rate since January 2021, while employment rose for a 13th straight month, the survey showed.
- On Monday, the S&P Global final Japan Services Purchasing Managers' Index eased to 51.3 in September from a five-month high of 52.5 in August, signaling slower service sector expansion.
- The Composite PMI, covering both manufacturing and services, fell to 52.3 in September from 53.5 in August, marking the weakest performance since May amid earthquake disruption dampening demand.
- Annabel Fiddes, Economics Associate Director at S&P Global Market Intelligence, said "PMI survey data pointed to a softer expansion" as employment increased for a 13th consecutive month.
- The Bank of Japan's quarterly "tankan" survey released on Thursday showed Japanese manufacturers' confidence hit an eight-year high over July-September, though non-manufacturers' mood soured.
- Input cost inflation eased to a six-month low but remained elevated by historical standards, as companies cite higher raw materials, oil, labour, and food costs pressuring margins.
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Japan service sector activity slows from 5-month high, PMI shows
Japan's services sector continued to grow in September, but the PMI fell from 52.5 to 51.3, below expectations. The composite PMI dropped to its lowest level since May, while the acceleration in job growth brought the Bank of Japan's interest rate path back into focus.
The composite purchasing managers' index for Japan's manufacturing and services sectors was recorded at 52.3 in September, down from 53.5 the previous month.
Australia PMI Services Falls to 51.9 as Growth Slows and Price Pressures Rise - ActionForex
Australia’s private-sector expansion lost momentum in September, with S&P Global’s PMI Services falling from 53.2 to 51.9 and PMI Composite easing from 52.7 to 51.3. Both indices remained above the 50 no-change threshold for a fourth consecutive month, but each signalled the slowest growth in three months. Services new-business growth also moderated to the weakest […]
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