Economic Buzz: Japan Services Sector PMI Grows 50.7 In April

9 May 2022 , 11:19 AM

Japan services sector swung into expansion territory in April, the latest survey from Jibun Bank revealed on Monday with a services PMI score of 50.7. Thats up from 49.4 in March and it moves above the boom-or-bust line of 50 that separates expansion from contraction. While the lifting of remaining restrictions aided the recovery in activity, stronger growth was held back by uncertainty linked to the Ukraine war, however. Total new business, meanwhile, fell for the third time in four months in April, albeit only marginally. The survey also showed that the composite index improved to 51.1 in April from 50.3 in March. The positive reading was the second in successive months and the strongest recorded since last December. Services firms reported a renewed rise in activity, while manufacturers signaled an unchanged, moderate rate of expansion.Powered by Commodity Insights