Japan's services PMI rose to 53.7 in July, marking sector growth driven by domestic demand.
Japan's services PMI improved to 53.7 in July from 49.4 in June, marking the sector's return to growth. The expansion is driven by domestic demand, but foreign demand declined significantly. Despite rising inflationary pressures, businesses maintain strong confidence due to their ability to pass on increased costs to customers. Service providers experienced an increase in outstanding business and employment levels, with the job creation rate surpassing the long-term average.
August 05, 2024
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