Economic Buzz: Japan services activity growth remains strong in October

Japan?s latest PMI data pointed to a further strong increase in service sector activity at the start of the fourth quarter. This was despite a notably softer increase in new orders. At 53.1 in October, the headline Japan Services Business Activity Index fell only slightly from 53.3 in September and was consistent with a further solid increase in service sector output. Business activity across Japan's service sector has now risen in each of the past seven months. Sub-sector data indicated that Finance & Insurance companies recorded the strongest rate of activity growth, followed by Transport & Storage firms. According to panel members, greater amounts of new orders and improved billings due to recent increases in charges had supported the upturn in business activity.

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