The au Jibun Bank Japan Services PMI was revised higher to 49.5 in April 2021 from preliminary data and March's final figure of 48.3. This was the 15th straight month of contraction in the service sector but the weakest pace in the sequence, amid the prolonged impact of the coronavirus pandemic. The gauge of new orders registered the highest readings since January 2020, while employment grew for the third month running and at the quickest pace in nearly two years. Meantime, foreign demand shrank faster than total new business, as key external markets continued to battle a fresh wave of COVID-19 cases. On the cost front, the rate of input cost inflation remained solid, amid higher staff costs and raw material prices, notably for fuel. Meantime, prices charged rose for the first time since February 2020, and were at the fastest pace in 15 months, as firms sought to partially pass through to customers additional cost burdens. Lastly, sentiment was positive for the eighth month in a row. source: Markit Economics
Services PMI in Japan averaged 49.88 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 May of 2021.
Services PMI in Japan is expected to be 49.00 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 51.60 points in 2022, according to our econometric models.