Japan Service Sector Steady In August - Jibun

(RTTNews) - The services sector in Japan continued to expand in August, and at a steady pace, the latest survey from Jibun Bank revealed on Wednesday with a services PMI score of 53.7.

That's unchanged from the July reading and remains above the boom-or-bust line of 50 that separates expansion from contraction.

Total new work increased for the second successive month in August, though the rate of growth eased from that seen in July. Survey respondents typically noted new store openings and improving confidence, notably in domestic markets.

Export sales also provided a positive contribution to overall business growth midway through the third quarter, reversing the reduction seen in July. Service providers added to their payroll numbers for the eleventh consecutive month in August, although the rate of job creation was the slowest since the start of the year.