Japan Services PMI in April
According to a report provided by Markit Economics, the Japan Services PMI (Purchasing Managers’ Index) rose significantly in April compared to March. It was 52.5 in April and 50.9 in March. It beat the market expectation of 52.
The rise in services activity in April was mainly due to strong improvement in production volume and output. New orders and export orders grew at a higher rate in April, reaching a five-month high. Job growth in the services sector also rose at a faster rate.
More exports and a stronger domestic demand helped Japan’s services industry. The country’s business confidence index also rose strongly in April.