The au Jibun Bank Japan Services PMI was revised upward to 46.5 in May from a preliminary reading of 45.7 and compared with a final 49.5 in April. New business shrank the most in three months, extending the current sequence of falls to 16 months, on the back of the latest wave of COVID-19 cases and the reimposition of a state of emergency. In addition, foreign demand deteriorated further as key markets around Asia faced stricter restrictions. Positively, employment rose for the fourth month in a row, suggesting that firms took on additional staff in anticipation of higher sales once the pandemic subsided. That said, outstanding business fell for 18th month. On the cost side, input cost went up for the sixth successive month, due to higher raw materials, staff and energy costs. Meantime, prices charged increase for the second month running, though the rate of inflation was marginal. Lastly, confidence remained positive but the degree of optimism weakened to the lowest since January. source: Markit Economics
Services PMI in Japan averaged 49.84 points from 2013 until 2021, 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 June of 2021.
Services PMI in Japan is expected to be 49.00 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 52.00 in 12 months time. In the long-term, the Japan Services PMI is projected to trend around 51.60 points in 2022, according to our econometric models.