Reported 26 days ago
Japan's service sector activity accelerated in July, marking the fastest growth in five months, driven by robust domestic demand that offset declines in export orders and tourism. The S&P Global purchasing managers' index for services rose to 53.6, indicating expansion, although new export orders fell sharply for the first time since December. Employment in the sector remained stable, ending a lengthy growth period due to hiring challenges. While price pressures eased, the overall business activity in July showed improvement, reflecting strong service sector performance juxtaposed with a decline in manufacturing output.
Source: YAHOO