The au Jibun Bank Japan Services PMI edged up to 45.2 in July 2020 from 45.0 in the prior month, a preliminary estimate showed. The latest reading pointed to the sixth straight month of contraction in the sector, as the coronavirus pandemic continued to hit activity and demand. New business continued to shrink, albeit at a slower pace than in June and at a modest rate. Employment fell for a fifth consecutive month, while the amount of incomplete work decreased again, indicating a further development of spare capacity. On the price front, input costs were broadly unchanged, while output price deflation eased. Lastly, business sentiment weakened.
Services Pmi in Japan averaged 50.18 points from 2013 until 2020, 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 2020. source: Markit Economics
Services Pmi in Japan is expected to be 50.00 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 51.00 in 12 months time. In the long-term, the Japan Services PMI is projected to trend around 51.90 points in 2021 and 51.60 points in 2022, according to our econometric models.