Japan Services Sector Moves To Expansion In July - Jibun

(RTTNews) - The services sector in Japan bounced back up into expansion territory in July, the latest survey from Jibun Bank revealed on Monday with a services PMI score of 53.7.

That's up from 49.4 in June, and it moves above the boom-or-bust line of 50 that separates expansion from contraction.

In line with activity, Japanese service providers registered a moderate rise in new business volumes in July. The uptick reversed June's slight fall and was well above the long-run average. Firms signaled that stronger confidence has boosted order books and stimulated businesses to expand. In contrast, foreign demand for Japanese services contracted for the first time in 2024 to date, and at the most marked rate since June 2022.

Japanese service providers registered a sustained improvement in employment levels during July. The rate of job creation strengthened from June and was well above the long-run series average.