The au Jibun Bank Japan Services PMI was at 45.4 in July 2020, compared with the preliminary data of 45.2 and following a final 45.0 in the prior month. This marked the highest reading in five months, amid a gradual recovery in domestic demand since the state of emergency had been lifted. New business fell the least in the current six-month period of contraction on the back of subdued export sales as ongoing international travel restrictions sustained. Backlogs of work decreased, which continued the downward trend seen since December 2019. Despite a lack of pressure on business capacity, employment numbers fell slightly. On the price front, average cost burdens were broadly unchanged. Service providers noted a preference for cutting fixed overheads, to help offset pressures on costs in other areas. The latest data indicated a sustained fall in prices charged. Finally, confidence returned to positive territory.
Services Pmi in Japan averaged 50.18 points from 2013 until 2020, reaching an all time high of 55.30 points in October of 2013 and a record low of 21.50 points in April of 2020. 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. Japan Services PMI - data, historical chart, forecasts and calendar of releases - was last updated on August of 2020. source: Markit Economics
Services Pmi in Japan is expected to be 50.00 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 51.00 in 12 months time. In the long-term, the Japan Services PMI is projected to trend around 51.90 points in 2021 and 51.60 points in 2022, according to our econometric models.