The au Jibun Bank Japan Services PMI was revised higher to 46.3 in February 2021, up from a preliminary reading of 45.8 and compared with 46.1 in the previous month. Still, the latest reading marked the 13th consecutive month of contraction in the service sector as ongoing restrictions to combat the pandemic weighed on activity. New business continued to decline, while employment expanded for the first time since February 2020. Meantime, firms utilized spare capacity to further reduce outstanding business for the fifteenth month in a row. Prices data showed cost burdens rising for the third month running, though the increase was the softest in the current sequence of inflation. However, output charges fell for a twelfth straight month, with the pace of price discounting being the quickest since August 2020 as firms looked to attract customers. Lastly, business confidence picked up from the previous month and was the strongest since January 2018. source: Markit Economics
Services PMI in Japan averaged 49.90 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 March of 2021.
Services PMI in Japan is expected to be 49.60 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Services PMI in Japan to stand at 51.90 in 12 months time. In the long-term, the Japan Services PMI is projected to trend around 51.60 points in 2022, according to our econometric models.