Financial News: Japan Service Sector Swings To Expansion In November

Japan Service Sector Swings To Expansion In November - Jibun

12/03/2024 - 19:41:00 (RTTNews)

(RTTNews) - The services sector in Japan moved back into expansion territory in November, the latest survey from Jibun Bank revealed on Tuesday with a service PMI score of 50.5.

That's up from 49.7 in October, and it moves back above the boom-or-bust line of 50 that separates expansion from contraction.

Japanese service providers registered a modest rise in new business volumes in the penultimate month of 2024. The uptick was above the long-run average but unchanged from that seen in the prior month and the joint-softest in the current five-month sequence. Firms signaled stronger confidence and business expansions had boosted order books.

In contrast, foreign demand for Japanese services contracted for the second month running, though the contraction was only fractional. Japanese services companies recorded a sustained improvement in employment levels during November.

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