The Jibun Bank Japan Services PMI rose to 52.1 in January 2020, the highest since September, from 49.4 in the prior month, a preliminary estimate showed. Both new orders and employment expanded faster amid a softer decline in overseas sales. Meanwhile, backlogs of work dropped sharply. In terms of prices, input cost inflation picked up while selling prices rebounded from December's fall. Finally, business sentiment weakened, but remained positive.

Services Pmi in Japan averaged 51.29 points from 2013 until 2020, reaching an all time high of 55.30 points in October of 2013 and a record low of 46.40 points in April of 2014. This page provides the latest reported value for - Japan Services PMI - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. source: Markit Economics

Services Pmi in Japan is expected to be 51.00 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Services Pmi in Japan to stand at 54.00 in 12 months time. In the long-term, the Japan Services PMI is projected to trend around 52.90 points in 2020, according to our econometric models.

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Japan Services PMI

Actual Previous Highest Lowest Dates Unit Frequency
52.10 49.40 55.30 46.40 2013 - 2020 points Monthly

News Stream
Japan Service Activity Falls the Most in Over 3 Years
The Jibun Bank Japan Services PMI was revised lower to 49.4 in December 2019 from a preliminary estimate of 50.6, signalling the steepest contraction in service sector output in over three years. New order growth slowed due to the first decline in foreign demand since June, while backlogs of work dropped at the strongest rate for over one-and-a-half years. Meanwhile, the rate of job creation was the fastest in six months on the back of expansion plans and the provision of new services. On the price front, input costs increased amid higher fuel and labour expenses, while output charges were reduced for the first time since July 2017. Looking ahead, business optimism eased from November's five-month high.

Japan Services Growth Remains Subdued
The Jibun Bank Japan Services PMI rose to 50.6 in December 2019 from 50.3 in the previous month, signalling back-to-back months of growth in output as business activity recovers following the sale tax hike and typhoon in October. New business and employment increased at the fastest pace in six months, while backlogs of work declined. On the price front, output prices decreased, while input price inflation eased. Lastly, sentiment weakened but remained positive.

Japan November Services PMI Revised Higher
The Jibun Bank Japan Services PMI was revised lower to 50.3 in November 2019 from a preliminary estimate of 50.4, and compared to October's final of 49.7. The latest reading pointed to an expansion in the services sector, after shrinking in the previous month, as new orders increased slightly and the job creation rate accelerated to a five-month high. Also, both new export orders and outstanding business were broadly unchanged despite reports of operational difficulties in the aftermath of the typhoon. On the price front, input cost inflation picked up; while output price inflation eased. Lastly, sentiment strengthened to a five-month high, boosted by improvements in demand outlook, tailwinds from the Tokyo Olympics and new customer gains.

Japan Services Sector Returns to Growth
The Jibun Bank Japan Services PMI rose to 50.4 in November 2019 from 49.7 in the previous month, pointing to a rebound in service sector output, a preliminary estimate showed. New order growth accelerated, while both overseas sales and employment increased at softer pace. On the price front, output prices rose less, while input cost inflation picked up. Lastly, sentiment improved.

Japan Services PMI
The Japan Services PMI (Purchasing Managers' Index) is based on data collected from a representative panel of over 400 private service sector companies based in Japan. The index tracks variables such as sales, employment, inventories and prices. A reading above 50 indicates that the services sector is generally expanding; below 50 indicates that it is generally declining.