Japan Services PMI in June
It was Japan’s ninth consecutive month of expansion in service activity. A level above 50 indicates expansion in activity, while a level below 50 shows contraction in activity. June’s services PMI showed stronger improvement in its business climate.
The stronger improvement in the services PMI indicates that production output, new orders growth, and export orders rose at a stronger rate in June. Employment growth also rose for the sixth consecutive month. Overall domestic demand and overseas (VT) (ACWI) (VTI) demand in the services sector also improved.
Performances of ETFs
Japan’s consumer spending is now showing a little improvement. Consumer spending is an important factor for Japan’s economic growth. Improved consumer spending will also help corporations improve their productivity, which could lead to higher employment, higher business activity, and wage growth.
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