The Jibun Bank Japan Services PMI declined to 46.7 in February 2020 from 51.0 in the previous month, pointing to the steepest contraction in the sector since April 2014, a preliminary estimate showed. Survey evidence implied the coronavirus outbreak has hit hard tourism industry, which was a key source of demand for services. Both new orders and export sales contracted, while employment stagnated. In terms of prices, output price inflation eased, while input prices rose at a faster pace. Lastly, confidence softened but stayed positive.
Services Pmi in Japan averaged 51.21 points from 2013 until 2020, reaching an all time high of 55.30 points in October of 2013 and a record low of 46.40 points in April of 2014. This page provides the latest reported value for - Japan Services PMI - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. source: Markit Economics
Services Pmi in Japan is expected to be 50.00 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Services Pmi in Japan to stand at 52.00 in 12 months time. In the long-term, the Japan Services PMI is projected to trend around 51.90 points in 2021 and 50.50 points in 2022, according to our econometric models.