Reported 2 months ago
Japan's service-sector activity rebounded in July, with the au Jibun Bank Service PMI rising to 53.7 from June's 49.4, indicating growth due to strong domestic demand despite ongoing challenges from slow overseas orders and rising costs. Although the overall outlook remains positive, new export business contracted for the first time in seven months, reflecting weaker global demand. The composite PMI, which incorporates both manufacturing and services, also returned to growth at 52.5. Nonetheless, businesses continue to face inflationary pressures, prompting the Bank of Japan to raise interest rates to their highest level since 2008.
Source: YAHOO