The au Jibun Bank Japan Services PMI came in at 46.1 in January 2021, compared with a preliminary reading of 45.7 and a final 47.2 in December. This was the twelfth straight month of contraction in the sector and the steepest pace in five months, as the government declared a state of emergency in Tokyo due to rising local COVID-19 infections. Both activity and incoming new business declined the most since May. Meanwhile, firms recorded a broadly stable labor market. There was evidence that businesses redirected capacity towards the completion of existing projects, indicated by a sharp fall in outstanding business. As for prices, input cost went up for the second straight month, while prices charged fell further on price-discounting strategies that extended into an eleventh successive month amid efforts to stimulate sales. Looking ahead, sentiment remained positive. source: Markit Economics
Services PMI in Japan averaged 49.94 points from 2013 until 2021, reaching an all time high of 55.30 points in October of 2013 and a record low of 21.50 points in April of 2020. 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. Japan Services PMI - data, historical chart, forecasts and calendar of releases - was last updated on February of 2021.
Services PMI in Japan is expected to be 51.60 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 51.90 in 12 months time. In the long-term, the Japan Services PMI is projected to trend around 51.60 points in 2022, according to our econometric models.