JEQ - Japan services PMI revised upward to 53.8 in May amid rise in new orders

2024-06-05 02:17:11 ET

• The au Jibun Bank of Japan Services PMI was revised higher to 53.8 in May 2024 from a preliminary figure of 53.6, the latest result was lower than April's 8-month peak of 54.3, marking the softest growth in the service sector since February.
• New orders rose solidly, but its growth rate eased for the first time in seven months.
• The au Jibun Bank of Japan Composite PMI was revised upward to 52.6 in May 2024 from a flash figure of 52.4, marking the highest reading since last August, coming after April's print of 52.3, as the service economy grew at a softer pace but remained robust while manufacturing output stabilized.
• Meanwhile, investors digested data showing wages in the country increased more than expected to 2.1% in April, but still lagged behind the 2.2% core consumer inflation rate recorded in the same month.
• The Nikkei 225 ( NKY:IND ) fell 1.1% to below 38,500 on Wednesday, extending losses from the previous session amid a broad share market decline. ( USD:JPY ) is trading at 155.711.

  More on Japan

  • Japan's retail sales rises more than expected in April, industrial production unexpectedly fall

  • Japan's trade deficit widens on weak yen, exports rose less than expected in April

  • Japan Q1 GDP shrinks more than expected on weak consumer spending

  • Japan's manufacturing activity rises to 49.9 in April; services PMI rises to 11-month peak

  • Japan's inflation ticks lower to 2.7%, meeting expectations

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