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Financial News: Japan Services PMI Rises To 53.0 In May

Japan Services PMI Rises To 53.0 In May - Nikkei

06/04/2017 - 20:46:00 (RTTNews)

(RTTNews) - The services sector in Japan continued to expand in May, and at a faster rate. The latest survey from Nikkei revealed on Monday with a PMI score of 53.0.

That's up from 52.2 in April, and it moves farther above the boom-or-bust line of 50 that separates expansion from contraction.

Individually, the higher activity was underpinned by the sharpest increase in new work in four years. Job numbers advanced as backlogs continued to grow, while confidence hit its highest level since June 2013.

The survey also showed that the composite index came in at 53.4, up from 52.6 in the previous month.

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