Japan’s services PMI in March 2018

According to a report from Markit Economics, Japan’s services PMI again declined in March as compared to February 2018. It stood at 50.9 in March as compared to 51.7 in February 2018. It was marginally lower than the market expectations of 51.2.

How Japan’s Services PMI Trended in March 2018

The weaker performance in March was mainly due to a softer rise in production volume and output. New orders and export orders saw the least growth in 18 months. However, the job growth in the service sector has risen at a faster rate since December 2017.

The weaker export orders due to the rising worries about a trade war between the US and China mainly hampered the services activity in Japan in March 2018. However, the domestic demand remained strong in that month. As Japan hugely depends on exports, the weakness in its exports could hamper overall economic activity.

Performance of ETFs in March 2018

The iShares MSCI Japan ETF (EWJ), which tracks the performance of Japan, dropped 0.6% in March 2018. The WisdomTree Japan Hedged Equity ETF (DXJ) dropped 2% in that month.

In the next part of this series, we’ll analyze the Eurozone Sentix investor confidence in April 2018.

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