Japan’s services PMI in August

According to the latest report by Markit Economics, Japan (EWJ) (DXJ) services PMI (purchasing managers’ index) stood at 51.6 in August 2017, compared with 52 in July 2017, missing the market expectation of 52.

How Japan’s Service Activity Trended in August 2017

August marks the 11th straight month of expansion in Japan’s service activity. Levels above 50.0 indicate an expansion in activity, while levels below 50.0 indicate contraction. Japan’s services PMI in August was its lowest reading since February 2017.

Japan’s August service PMI indicates that production output, new order growth, and export orders all rose at a slower pace for the month. However, employment growth rose for the eighth consecutive month in August. The overall domestic demand and overseas (VT) (ACWI) (VTI) demand in the service sector slowed.

Japan’s overall business sentiment remained strong in August 2017. The recovery in global demand is helping Japan’s economy. However, the geopolitical risk due to North Korea is impacting its currency. The fluctuation in the Japanese yen (FXY) could impact the country’s exports.

Performance of various ETFs

The iShares MSCI Japan ETF (EWJ) and the WisdomTree Japan Hedged Equity ETF (DXJ), which tracks the performance of Japan, fell marginally in August 2017.

In the next part of this series, we’ll analyze the final services PMI for France in August 2017.

Latest articles

Pure Storage shares have risen more than 15% today. The company announced its second-quarter results after the markets closed on Wednesday.

Nordstrom (JWN) stock was up 16% as of 11:50 AM today after it reported better-than-expected earnings for the second quarter of fiscal 2019.

Last month, four automakers, including Ford, made a voluntary deal with California to make cars cleaner and more fuel efficient. Trump isn't happy with the deal.

GameStop (GME) shares rose 8% in early market trading today. The company laid off about 120 employees as part of its restructuring process.

Today, citing German business publication Manager Magazin, Reuters reported that Volkswagen CEO Herbert Diess is interested in a stake in Tesla.

For the second quarter, Cresco Labs reported revenues of $29.9 million, which beat analysts’ expectation of $27.9 million.