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Japan service activity posts slowest growth this year - PMI
  + stars: | 2023-11-06 | by ( ) www.reuters.com   time to read: +2 min
TOKYO, Nov 6 (Reuters) - Japan's services activity expanded at the slowest pace this year in October, a business survey showed on Monday, reinforcing concerns that the key sector propelling economic growth is continuing to soften. The final au Jibun Bank Service purchasing managers' index (PMI) fell to 51.6 in October from 53.8 in September, beset by weak demand. "While the PMI data continue to make positive reading for the Japanese service sector, the recent trends suggest that growth is on the wane," said Andrew Harker, economics director at S&P Global. Employment returned to growth, but retirements offset the overall pace of job creation, the survey found. The worsening conflict in the Middle East and slower growth in China cloud the outlook for Japan, among the largest economies in the world.
Persons: Andrew Harker, Satoshi Sugiyama, Sam Holmes Organizations: Jibun Bank Service, P Global Intelligence, PMI, P, Employment, Thomson Locations: TOKYO, China, Japan
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