Japan’s service sector activity strengthened in September as there were steep increases in both business activity and new orders, final purchasing managers’ survey data from S&P Global showed on Friday.
The final services Purchasing Managers’ Index rose to 53.3 in September from 53.1 in August. A score above 50 indicates expansion. The flash reading was 53.0.
The rate of growth in the service sector was the second-steepest since February. The upturn extended the current sequence of expansion to six months.
However, the overall private sector output expanded at the slowest pace in four months due to a sharp drop in factory output. At 51.3 in September, the composite output index slipped from a six-month high of 52.0 in August and remained above the initial estimate of 51.1.
“The survey data also suggest that growth is being largely driven by stronger domestic demand, as both manufacturers and services companies noted further falls in new export business,” S&P Global Market Intelligence Economics Associate Director Annabel Fiddes said.
For comments and feedback contact: editorial@rttnews.com
Economic News
What parts of the world are seeing the best (and worst) economic performances lately? Click here to check out our Econ Scorecard and find out! See up-to-the-moment rankings for the best and worst performers in GDP, unemployment rate, inflation and much more.