Japan Services PMI Climbs To 50.9 In December - Jibun Bank
2024-12-31
3434
(fxcue news) - The services sector in Japan continued to expand in December, and at a faster rate, the latest survey from Jibun Bank revealed on Monday with a services PMI score of 50.9.
That's up from 50.5 in November, and it moves further above the boom-or-bust line of 50 that separates expansion from contraction.
Total new work increased for the sixth successive month, and the rate of growth in December was the strongest since August. New business growth strengthens to four-month high Inflationary pressures remain stable, but historically elevated Robust optimism regarding year ahead outlook. Survey respondents typically noted new customer intakes, most notably in the domestic market. Export sales continued to provide a negative contribution to overall new business growth at the end of 2024, extending the current sequence of decline to three months.
Service providers added to their payroll numbers for the fifteenth consecutive month, with the rate of job creation modest overall. Anecdotal evidence suggested that firms looked to take on additional staff in line with business expansion efforts.
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