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Financial News: Japan Service PMI Improves To 54.1 In March

Japan Service PMI Improves To 54.1 In March - Jibun

04/02/2024 - 20:39:00 (RTTNews)

(RTTNews) - The service sector in Japan continued to expand in March, and at a faster rate, the latest survey from Jibun Bank revealed on Wednesday with a service PMI score of 54.1.

That's up from 52.9 and it moves further above the boom-or-bust line of 50 that separates expansion from contraction.

Japanese service providers registered a sustained improvement in employment levels during March. While the rate of job creation eased slightly from February, it remained well above the long-run series average. There was also evidence of pressure on capacity at service sector firms, with the level of outstanding business rising for the fifth month in a row. The rate of accumulation was moderate and among the strongest in the series history.

Inflationary pressures remained marked at the end of the first quarter. Operating expenses ticked up further, with the rate of inflation quickening to a five-month high. Inflation across a broad range of inputs was reported, including fuel, labor and utilities. Firms looked to pass higher cost burdens on to clients via higher selling prices, though the rate of charge inflation was little changed since February.

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