In February, Japan's services sector expanded at a slower pace with a PMI score of 52.9, driven by domestic demand and increased employment.

Japan's services sector expanded in February, although at a slower pace than January, with a PMI score of 52.9. Domestic demand boosted new business growth, while incoming export business remained stagnant. Employment in the service sector saw a stronger rise, with the highest rate of job creation since May 2021. Work backlogs increased solidly, reaching their highest level in eight months.