Japan Services PMI

Last Release

Jul 31, 2024

Actual

53.7

Units In

Points

49.4

Frequency

Monthly

Next Release

N/A

Time to Release

N/A

Highest	Lowest	Average	Date Range	Source
55.9 May 2023	21.5 Apr 2020	50.35 Points	2013-2024	Markit Economics

The Japan Services PMI (Purchasing Managers' Index) is based on data collected from a representative panel of over 400 private service sector companies based in Japan. The index tracks variables such as sales, employment, inventories and prices. A reading above 50 indicates that the services sector is generally expanding; below 50 indicates that it is generally declining.

Latest Updates

The au Jibun Bank Japan Services PMI was revised lower to 53.7 in August 2024 from a preliminary estimate of 54.0. While marking the 7th time of expansion in the service sector so far this year, the latest result was unchanged from July. New orders rose for the second month, though its growth rate eased from that in July. At the same time, export sales rose after a drop in the prior month. Employment gained for the 11th month despite job creation hitting its lowest since January. The rate of depletion in outstanding business was modest but the most marked since April 2022. On the cost side, price burdens were strongly higher due to higher wage, material, and transport costs but its inflation rate was little changed. Prices charged inflation eased further from April's 10-year high to reach the softest since November 2023. Lastly, sentiment stayed upbeat and was stronger than the series average. That said, the degree of optimism reached its lowest since January 2023.