The au Jibun Bank Japan Services PMI declined to 46.4 in July 2021 from 48 a month earlier, a preliminary figure showed. This was the steepest pace of contraction in the service sector since February, amid persistent rises in local COVID-19 cases and state of emergency measures in Japan. New orders shrank further, extending the current sequence of decline to 1-1/2 years. Also, export orders dropped at a faster rate, while employment saw a renewed contraction, with job shedding being reported for the first time since December 2020. On the cost front, input price inflation accelerated while selling prices went up at a slower rate. Lastly, firms remained confident that activity would increase over the coming 12 months, the degree of optimism dipped to the lowest since January. source: Markit Economics
Services PMI in Japan averaged 49.79 points from 2013 until 2021, reaching an all time high of 55.30 points in October of 2013 and a record low of 21.50 points in April of 2020. This page provides the latest reported value for - Japan Services PMI - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Japan Services PMI - data, historical chart, forecasts and calendar of releases - was last updated on August of 2021.
Services PMI in Japan is expected to be 49.00 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Japan Services PMI is projected to trend around 51.60 points in 2022, according to our econometric models.