Japan Services PMI

Last Release

Feb 28, 2023

Actual

Units In

Points

52.3

Frequency

Monthly

Next Release

N/A

Time to Release

N/A

Highest	Lowest	Average	Date Range	Source
55.3 Oct 2013	21.5 Apr 2020	49.9 Points	2013-2023	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 higher to 54.0 in February 2023, up from a preliminary estimate of 53.6, to signal a solid expansion in activity. The latest reading also signaled the fastest pace of expansion in service output since June last year, helped by a notably increase in demand as the impact of the pandemic receded. New business accelerated to a nine-month high, as both domestic and international demand rebounded, with new export orders rising at the second-strongest pace in over three years. As a result, employment returned to expansion and outstanding business rose the most since August 2017. On the price front, input cost inflation eased for the first time in three months, but remained high overall, and prices charged for services rose for the tenth month running. Finally, business sentiment strengthened to a four-month high.