Financial News: Japan Services PMI Steady At 53.1 - Jibun

Japan Services PMI Steady At 53.1 - Jibun

(RTTNews) - The services sector in Japan continued to expand in November, and at a steady pace, the latest survey from Jibun Bank revealed on Friday with a services PMI score of 53.1.

That's unchanged from the October reading and it remains above the boom-or-bust line of 50 that separates expansion from contraction.

The survey also said the manufacturing PMI ticked up to 48.8 from 48.2 in the previous month, while the composite moved up to 52.0 from 51.5.

Though indicative of a modest rate of growth, the reading was the best recorded for three months, and the joint-highest since August 2024. A softer and only marginal reduction in manufacturing output helped to lift the headline index in November, while the service sector recorded a solid rate of growth that was unchanged from the previous month.

Demand conditions remained subdued, however, as firms signaled a back-to-back fall in overall new work during November. That said, the rate of decline eased from October and was only fractional.

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