minus academy faq plus academy faq Check in circle Apple Android Home Magnifer Calculator Mail Email Facebook Twitter RSS Linkedin Linkedin hollower Headphones Wechats Instagram Line Mail 2 Phone Phone 2 Minus Plus Arrow right Arrow left (variant 2) Arrow right (variant 2) Brand logo Brand logo not filled Hamburger Flag of the Hong Kong Flag of the US/GB Flag of the US/GB Flag of the US/GB Flag of the China Flag of the China Flag of the China (traditional) Flag of the Taiwan Flag of the Hong Kong Flag of the Spain Flag of the Russia Flag of the France Flag of the German Flag of the Portugal Flag of the Italy Flag of the Poland Flag of the Czech Flag of the Hungary Flag of the Sweden Flag of the Bulgarian Flag of the Finland Flag of the Lithuania Flag of the Denmark Flag of the Croatia Flag of the Estonia Flag of the Norway Flag of the Romania Flag of the United Arab Emirates Flag of the United Arab Emirates Flag of the Indonesia Flag of the Malaysia Flag of the Korea Flag of the Korea Flag of the Samoa Flag of the Vietnam Flag of the Thailand Flag of the Turkey Flag of the Japan Cross Cross large User Arrow down Arrow up Cube Info list Data comunication Clock Slash
Market News
Japan Skyrockets in Service Sector Growth - Zeal Capital Market

Japan Skyrockets in Service Sector Growth

03-12-2021 09:51

ZFX – Japan’s service sector activity grew at its fastest pace in more than two years in November as new business surged, signaling stronger consumer confidence as the coronavirus pandemic eases.

The world’s third-largest economy has lagged behind other developed economies in recovery, as the pandemic hit with coronavirus-related activity restrictions for part of the year.

The au Jibun Bank Japan Services Purchasing Managers’ Index (PMI) last rose to a seasonally-adjusted 53.0 from 50.7 the previous month and a quick reading of 52.1.

That marked the fastest pace of expansion since August 2019.

“New orders rose for the first time since January 2020 as panel members said lifting the state of emergency had boosted confidence and selling,” said Usamah Bhatti, economist at IHS.

“Despite increasing demand and pressure on capacity, Japanese service providers are lowering staff levels for the first time since July.”

Stronger spending on dining out, lodging and other services is likely to support the Japanese economy as persistent global chip shortages and soaring raw material prices weigh on producers.

“Both manufacturers and service companies showed notable increases in cost suppression in November,” Bhatti said.

The composite PMI, which is forecast to use both manufacturing and services, expanded at the fastest rate in more than four years, rising to 53.3 from October’s final 50.7.

Risk Warning: The above content is for reference only, and does not represent ZFX’s position. ZFX does not assume any form of loss caused by any trading operations carried out in accordance with this article. Please be firm in your thinking and do the corresponding risk control.

ZFX (Zeal Capital Market) is an FCA & FSA licensed online Forex & CFD broker providing more than 100 products for Forexcommoditiesstock indices, and share CFDsOpen a trading account with min. USD 50 deposit and download our MT4 trading platform now!