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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.
The Star
04-06-2025
- Business
- The Star
Japan's services sector growth slows in May on weaker demand
New business growth in the service sector eased to its slowest pace since November. — Reuters TOKYO: Growth in Japan's service-sector activity slowed in May on weaker demand, offering little to mitigate falling factory activity and resulting in a near-zero growth for business overall, a private-sector survey shows. The final au Jibun Bank Japan Services purchasing managers' index (PMI) fell to 51 in May from 52.4 in April. An index reading above 50 indicates growth and a reading below indicates contraction. New business growth in the service sector eased to its slowest pace since November, while employment growth in services was the weakest rate since December 2023, the survey showed. Service-sector managers' confidence in their future outlook improved to a three-month high in May from April's four-year low, but the overall level stayed weaker than the post-pandemic average, according to the survey. 'Concerns over the outlook often stem from uncertainty over future global demand, as well as labour shortages and rising costs,' said Annabel Fiddes, economics associate director at S&P Global Market Intelligence, which compiled the survey. 'The latter was highlighted by a further steep increase in input prices, to suggest that official inflation data will remain strong.' — Reuters
Business Recorder
04-06-2025
- Business
- Business Recorder
Japan's service sector growth slows in May, PMI shows
TOKYO: Growth in Japan's service-sector activity slowed in May on weaker demand, offering little to mitigate falling factory activity and resulting in a near-zero growth for business overall, a private sector survey showed on Wednesday. The final au Jibun Bank Japan Services purchasing managers' index (PMI) fell to 51.0 in May from 52.4 in April, although it was higher than flash 50.8. An index reading above the 50.0 threshold indicates growth and a reading below indicates contraction. New business growth in the service sector eased to its slowest pace since November, while employment growth in services was the weakest rate since December 2023, the survey showed. Service-sector managers' confidence in their future outlook improved to a three-month high in May from April's four-year low, but the overall level stayed weaker than the post-pandemic average, according to the survey. 'Concerns over the outlook often stemmed from uncertainty over future global demand, as well as labour shortages and rising costs,' said Annabel Fiddes, Economics Associate Director at S&P Global Market Intelligence, which compiled the survey. 'The latter was highlighted by a further steep increase in input prices, to suggest that official inflation data will remain strong.' Japan's service activity expands on solid demand, PMI shows Input price inflation eased from April's 26-month high but remained elevated, with managers citing higher costs for energy, labour and transport, prompting service providers to continue raising their output charges roughly in line with April's pace. The slowdown in services, combined with a continued decrease in manufacturing, left overall private sector activity stagnant with the composite PMI dropping to 50.2 in May from 51.2 in April. 'The weaker demand picture suggests that the private sector may struggle to bounce back in the near-term, and could translate into more cautious staff hiring in the months ahead,' Fiddes said.
New Straits Times
04-06-2025
- Business
- New Straits Times
Japan's service sector growth slows in May, PMI shows
TOKYO: Growth in Japan's service-sector activity slowed in May on weaker demand, offering little to mitigate falling factory activity and resulting in a near-zero growth for business overall, a private sector survey showed on Wednesday. The final au Jibun Bank Japan Services purchasing managers' index (PMI) fell to 51.0 in May from 52.4 in April, although it was higher than flash 50.8. An index reading above the 50.0 threshold indicates growth and a reading below indicates contraction. New business growth in the service sector eased to its slowest pace since November, while employment growth in services was the weakest rate since December 2023, the survey showed. Service-sector managers' confidence in their future outlook improved to a three-month high in May from April's four-year low, but the overall level stayed weaker than the post-pandemic average, according to the survey. "Concerns over the outlook often stemmed from uncertainty over future global demand, as well as labour shortages and rising costs," said Annabel Fiddes, Economics Associate Director at S&P Global Market Intelligence, which compiled the survey. "The latter was highlighted by a further steep increase in input prices, to suggest that official inflation data will remain strong." Input price inflation eased from April's 26-month high but remained elevated, with managers citing higher costs for energy, labour and transport, prompting service providers to continue raising their output charges roughly in line with April's pace. The slowdown in services, combined with a continued decrease in manufacturing, left overall private sector activity stagnant with the composite PMI dropping to 50.2 in May from 51.2 in April. "The weaker demand picture suggests that the private sector may struggle to bounce back in the near-term, and could translate into more cautious staff hiring in the months ahead," Fiddes said.
