Japan Services Sector PMI Improves To 55.4 In April - Jibun
(RTTNews) - The services sector in Japan continued to expand in April, and at a faster rate, the latest survey from Jibun Bank revealed on Monday with a services PMI score of 55.4.
That's up from 55.0 in March and it moves further above the boom-or-bust line of 50 that separates expansion from contraction.
Robust output growth reflected a sharp and accelerated rise in new business volumes during April. The upturn in new work was also the strongest seen in over 15 years of data collection. Survey respondents often commented on greater spending on travel, leisure and tourism amid a post-pandemic recovery in demand.
Increased international visitor numbers contributed to a strong rise in new orders from abroad, with the pace of expansion the fastest since this index began in September 2014.
A surge in new orders placed some pressure on operating capacity during April. This led to an increase in backlogs of work for the ninth month running. Moreover, service providers added to their payrolls numbers, with job creation picking up to its fastest since April 2019.
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