Japan Services PMI2013-2021 Data | 2022-2023 Forecast | Calendar | Historical

The au Jibun Bank Japan Services PMI was revised higher to 48.3 in March 2021, from a preliminary estimate of 46.5, signaling a softer, albeit sustained contraction in activity. The latest reading was the highest since January 2020, as some companies lifted output at the end of the first quarter. New orders fell the least since last July, while employment growth was the strongest for over a year. On the price front, input cost inflation accelerated to the quickest since January 2020, due to higher raw materials and fuel costs. However, prices charged dropped further, though the rate of decline was the softest in four months. Finally, business optimism for activity in the next 12 months strengthened to the highest level since May 2013.

The au Jibun Bank Japan Services PMI went up to a three-month high of 46.5 in March 2021 from a final 46.3 in February, preliminary data showed. Still, this was the 14th straight month of contraction in the service sector, amid ongoing restrictions on movement due to coronavirus. New orders fell at the softest pace since October 2020 and export sales dropped at a slower rate. Meantime, employment rose the most in 22 months, amid a softer drop in backlogs of works. Prices data showed input prices increased at a faster rate while output prices declined less. Lastly, sentiment weakened slightly but remained positive.

The au Jibun Bank Japan Services PMI was revised higher to 46.3 in February 2021, up from a preliminary reading of 45.8 and compared with 46.1 in the previous month. Still, the latest reading marked the 13th consecutive month of contraction in the service sector as ongoing restrictions to combat the pandemic weighed on activity. New business continued to decline, while employment expanded for the first time since February 2020. Meantime, firms utilized spare capacity to further reduce outstanding business for the fifteenth month in a row. Prices data showed cost burdens rising for the third month running, though the increase was the softest in the current sequence of inflation. However, output charges fell for a twelfth straight month, with the pace of price discounting being the quickest since August 2020 as firms looked to attract customers. Lastly, business confidence picked up from the previous month and was the strongest since January 2018.

The au Jibun Bank Japan Services PMI fell to 45.8 in February 2021, from 46.1 in the previous month, signaling a quicker deterioration in business activity across the service sector, as businesses struggled to mitigate the impact from emergency measures taken to curb the spread of coronavirus in Tokyo and nine other prefectures. New business contracted sharply, with the pace of decline the fastest for nine months; and export orders dropped further. Meanwhile, employment expanded for the first time since February 2020. Regarding prices, input cost fell after rising in January; while output charges were reduced at a faster rate. Lastly, business sentiment strengthened, with the level of optimism rising to the highest in three months.