Japan’s service sector activity fell month-on-month in May, but remained in the expansion zone.
Services activity in Japan remained in expansion zone in June due to strong demand conditions in the economy.
The final au Jibun Bank Services of Japan purchasing managers index (PMI) fell to 54 in June from a record high of 55.9 in May.
Values above 50 indicate expansion in the sector, while values below 50 indicate contraction.
“The Japanese service economy signaled that demand conditions remained positive in June,” said Usamah Bhatti, Economist at S&P Global Market Intelligence, on Wednesday.