The au Jibun Bank Japan Services PMI was revised higher to 45.0 in June 2020 from a preliminary estimate of 42.3 and compared to May's 26.5. This was the highest reading since February as a state of emergency due to the coronavirus crisis was lifted, allowing companies in transport, information, communication, finance, real estate, and business services sectors to restart operations. However, where output did rise, panel comments suggest that growth was limited due to below-capacity operations and low customer numbers. New business continued to fall, although the decline moderated from those seen in the two previous months. Meantime, employment was down marginally, while volumes of outstanding business fell solidly. On the price front, input costs stabilized and output charges dropped as firms cut prices for a fourth month running to support sales. Finally, business confidence improved to a four-month high.
Services Pmi in Japan averaged 50.24 points from 2013 until 2020, 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 July of 2020. 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 51.00 in 12 months time. In the long-term, the Japan Services PMI is projected to trend around 51.90 points in 2021 and 51.60 points in 2022, according to our econometric models.