Latest news with #Fiddes
Business Times
05-08-2025
- Business
- Business Times
Japan's service growth picks up in July on upbeat demand: PMI
[TOKYO] Japan's service sector activity rose at the fastest pace in five months in July, thanks to brisk domestic demand that offset a sharp drop in export orders and weaker tourist numbers, a private sector survey reported on Tuesday (Aug 5). The S&P Global final Japan Services purchasing managers' index (PMI) climbed to 53.6 in July from 51.7 in June, marking the strongest expansion since February. A PMI reading above 50 indicates growth in activity, while that below the threshold points to contraction. New service business orders grew at the quickest pace in three months, supported by improved customer numbers, according to the survey. However, new export orders fell for the first time since December and at the fastest rate in over three years due to low tourist numbers in July, it showed. Some survey respondents attributed the weak tourist figures to speculative concerns about an earthquake in July. Employment in the service sector was unchanged from the previous month, ending a 21-month growth streak, with some respondents citing labour shortages and budget constraints as challenges to hiring. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up Price pressures continued to ease in July. Input cost inflation was the slowest in 17 months, while output costs rose at the softest pace in nine months. The composite PMI, which combines manufacturing and services, rose slightly to 51.6 in July from 51.5 in June, marking the strongest overall business activity growth since February. 'However, this reflected a steep increase in business activity at service providers, as factory output fell back into indicators were a little less upbeat in July,' said Annabel Fiddes, economics associate director at S&P Global Market Intelligence. The US-Japan trade deal announced last month could lift Japanese firms' confidence and consumption to offer 'a much-needed boost to the manufacturing economy', Fiddes added. REUTERS
The Star
24-07-2025
- Business
- The Star
Japan's factory activity slips into contraction in July, PMI shows
TOKYO: Japan's manufacturing activity slipped into contraction in July, weighed down by uncertainties over U.S. tariffs, a private-sector survey showed on Thursday. At the same time, Japan's service sector continued to outshine the struggling manufacturing industry, with activity growing at the fastest pace in five months, helped by robust demand. "Business activity across Japan's private sector continued to expand at the start of the third quarter, fuelled by stronger growth of the service sector," said Annabel Fiddes, Economics Associate Director at S&P Global Market Intelligence, which compiles the PMI. The S&P Global Japan manufacturing purchasing managers' index (PMI) dropped to 48.8 in July from June's final reading of 50.1, which was the first time the index exceeded the 50.0 threshold separating expansion from contraction in 13 months. The key sub-indexes of output and new orders dropped at the fastest pace in four and three months, respectively, as businesses assessed the impact from U.S. tariffs, the survey showed. "Uncertainty over future trade policy weighed on expectations regarding the year-ahead," Fiddes said. U.S. President Donald Trump on Tuesday announced a trade deal with Tokyo that he said would result in Japan investing $550 billion into the U.S. and a 15% tariff on imports from the Asian country. Meanwhile, the S&P Global Japan services PMI increased to 53.5 in July from 51.7 in June, thanks to new business growth. However, new export business saw its first contraction in seven months and employment growth rose at the slowest rate in nearly two years. Combining both manufacturing and service activity, the S&P Global Japan composite PMI in July remained unchanged from June's 51.5, the data showed. - Reuters
Business Times
24-07-2025
- Business
- Business Times
Japan's factory activity slips into contraction in July: PMI
[TOKYO] Japan's manufacturing activity slipped into contraction in July, weighed down by uncertainties over US tariffs, a private-sector survey showed on Thursday. At the same time, Japan's service sector continued to outshine the struggling manufacturing industry, with activity growing at the fastest pace in five months, helped by robust demand. 'Business activity across Japan's private sector continued to expand at the start of the third quarter, fuelled by stronger growth of the service sector,' said Annabel Fiddes, Economics Associate Director at S&P Global Market Intelligence, which compiles the PMI. The S&P Global Japan manufacturing purchasing managers' index (PMI) dropped to 48.8 in July from June's final reading of 50.1, which was the first time the index exceeded the 50.0 threshold separating expansion from contraction in 13 months. The key sub-indexes of output and new orders dropped at the fastest pace in four and three months, respectively, as businesses assessed the impact from US tariffs, the survey showed. 'Uncertainty over future trade policy weighed on expectations regarding the year-ahead,' Fiddes said. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up US President Donald Trump on Tuesday announced a trade deal with Tokyo that he said would result in Japan investing US$550 billion into the US and a 15 per cent tariff on imports from the Asian country. Meanwhile, the S&P Global Japan services PMI increased to 53.5 in July from 51.7 in June, thanks to new business growth. However, new export business saw its first contraction in seven months and employment growth rose at the slowest rate in nearly two years. Combining both manufacturing and service activity, the S&P Global Japan composite PMI in July remained unchanged from June's 51.5, the data showed. REUTERS
Business Times
03-07-2025
- Business
- Business Times
Japan's service activity growth picks up in June: PMI
[TOKYO] Japan's service sector activity expanded at a slightly faster pace in June, with business confidence improving to a four-month high, a private sector survey showed on Thursday. The final au Jibun Bank Japan Services purchasing managers' index (PMI) rose to 51.7 in June from 51.0 in May, topping the flash figure of 51.5 and marking a third consecutive month of growth. Readings above 50.0 indicate expansion in activity, while those below that level point to a contraction on a monthly basis. Overall new order growth accelerated slightly from May. But the increase in new export business, generally attributed to tourist activities, decelerated to the slowest since December. Service firms' business confidence on a 12-month outlook improved to a four-month high in June, with companies citing expansion plans, staff hiring and new product rollouts, according to the survey. As a result, employment in the sector grew at the fastest pace since January. Input price inflation eased to a six-month low, but output inflation rose to the fastest rate in 14 months, as service firms continued to pass higher labour, fuel and other costs onto their customers. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up The upturn in services, coupled with factory activities' return to growth for the first time in about a year, helped lift the composite PMI to 51.5 in June from 50.2 in May, marking the strongest overall business activity growth since February. 'However, market confidence and trading conditions remain subdued, in part due to lingering uncertainty over US tariffs,' said Annabel Fiddes, economics associate director at S&P Global Market Intelligence, which compiled the survey. 'The PMI data signalled that overall growth momentum slowed in the second quarter compared to the first quarter of 2025, to suggest an easing of GDP growth,' Fiddes added. Japan's GDP shrank by an annualised 0.2 per cent in the January-March quarter due to falling exports and lacklustre domestic consumption even before the full blow of US President Donald Trump's tariffs hit the economy. REUTERS
Hindustan Times
03-07-2025
- Business
- Hindustan Times
Japan's service activity growth picks up in June, PMI shows
TOKYO, - Japan's service sector activity expanded at a slightly faster pace in June, with business confidence improving to a four-month high, a private sector survey showed on Thursday. Japan's service activity growth picks up in June, PMI shows The final au Jibun Bank Japan Services purchasing managers' index rose to 51.7 in June from 51.0 in May, topping the flash figure of 51.5 and marking a third consecutive month of growth. Readings above 50.0 indicate expansion in activity, while those below that level point to a contraction on a monthly basis. Overall new order growth accelerated slightly from May. But the increase in new export business, generally attributed to tourist activities, decelerated to the slowest since December. Service firms' business confidence on a 12-month outlook improved to a four-month high in June, with companies citing expansion plans, staff hiring and new product rollouts, according to the survey. As a result, employment in the sector grew at the fastest pace since January. Input price inflation eased to a six-month low, but output inflation rose to the fastest rate in 14 months, as service firms continued to pass higher labour, fuel and other costs onto their customers. The upturn in services, coupled with factory activities' return to growth for the first time in about a year, helped lift the composite PMI to 51.5 in June from 50.2 in May, marking the strongest overall business activity growth since February. "However, market confidence and trading conditions remain subdued, in part due to lingering uncertainty over U.S. tariffs," said Annabel Fiddes, Economics Associate Director at S&P Global Market Intelligence, which compiled the survey. "The PMI data signalled that overall growth momentum slowed in the second quarter compared to the first quarter of 2025, to suggest an easing of GDP growth," Fiddes added. Japan's GDP shrank by an annualised 0.2% in the January-March quarter due to falling exports and lacklustre domestic consumption even before the full blow of U.S. President Donald Trump's tariffs hit the economy. This article was generated from an automated news agency feed without modifications to text.
