The au Jibun Bank Japan Services PMI increased to a three-month peak of 54.3 in August 2023 from 53.8 in July. It was the 12th consecutive month of growth in the service sector and the fastest pace since May, lifted by a solid rise in new orders, with new business from abroad also increasing despite the rate of expansion eased. Meanwhile, employment advanced after a fractional contraction in the previous month while backlogs of work were unchanged after declining in July. On the pricing front, input cost inflation accelerated to a six-month high due to higher fuel prices. As a result, output cost inflation was higher. Finally, business sentiment continued to slide, falling for the fourth straight month to its weakest since January. source: Markit Economics

Services PMI in Japan averaged 50.14 points from 2013 until 2023, reaching an all time high of 55.90 points in May of 2023 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 2023.

Services PMI in Japan is expected to be 54.00 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Japan Services PMI is projected to trend around 53.40 points in 2024 and 52.60 points in 2025, according to our econometric models.

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Japan Services PMI



Related Last Previous Unit Reference
Services PMI 54.30 53.80 points Aug 2023
Manufacturing PMI 49.70 49.60 points Aug 2023
Composite PMI 52.60 52.20 points Aug 2023

Japan Services PMI
The au Jibun Bank Japan Services PMI is compiled by S&P Global from responses to questionnaires sent to a panel of around 400 service sector companies. The sectors covered include consumer (excluding retail), transport, information, communication, finance, insurance, real estate and business services. The headline figure is the Services Business Activity Index. This is a diffusion index calculated from a question that asks for changes in the volume of business activity compared with one month previously. The Services Business Activity Index is comparable to the Manufacturing Output Index. The index varies between 0 and 100, with a reading above 50 indicating an overall increase compared to the previous month, and below 50 an overall decrease.
Actual Previous Highest Lowest Dates Unit Frequency
54.30 53.80 55.90 21.50 2013 - 2023 points Monthly

News Stream
Japan Services PMI Rises to 3-Month High
The au Jibun Bank Japan Services PMI increased to a three-month peak of 54.3 in August 2023 from 53.8 in July. It was the 12th consecutive month of growth in the service sector and the fastest pace since May, lifted by a solid rise in new orders, with new business from abroad also increasing despite the rate of expansion eased. Meanwhile, employment advanced after a fractional contraction in the previous month while backlogs of work were unchanged after declining in July. On the pricing front, input cost inflation accelerated to a six-month high due to higher fuel prices. As a result, output cost inflation was higher. Finally, business sentiment continued to slide, falling for the fourth straight month to its weakest since January.
2023-08-23
Japan Services PMI Revised Slightly Lower
The au Jibun Bank Japan Services PMI was at 53.8 in July 2023, compared with a flash print of 53.9 and a final 54.0 in June. While marking the 11th straight month of growth in the services sector, the latest result was the lowest since January, as new orders grew the least in six months while employment fell after rising in the prior five months. The level of outstanding business dropped for the first time in a year, with the rate of depletion being marginal, yet the strongest recorded since April 2022. Meantime, foreign demand rose at one of the fastest rates in the series' history amid strong demand for travel and tourism from abroad. On inflation, operating expenses rose for the first time in three months, linked to higher electricity, fuel, raw material, and labor costs. Finally, confidence remained strong but the degree of optimism slipped to a five-month low.
2023-08-03
Japan Services PMI Lowest in 6 Months
The au Jibun Bank Flash Japan Services PMI edged down to 53.9 in July 2023 from a final of 54.0 a month earlier, preliminary data showed. While marking the 11th straight month of growth in the services sector, the latest result was the lowest print since January, with the expansion in incoming business being modest, and the slowest recorded for six months. Also, overseas sales rose at a softer rate. Meantime, employment fell after increasing in the prior survey period. Moreover, July data indicated that activity growth was often fuelled by the completion of existing orders, as the level of outstanding business reduced for the first time in a year and at the fastest pace since April 2022. Firms also signaled the softest degree of positive sentiment regarding the year-ahead outlook for activity since the start of the year.
2023-07-24