Japan Services PMI Improves To 47.8 In November – Jibun
The services sector in Japan continued to contract in November, albeit at a slower rate, the latest survey from Jibun Bank showed on Thursday with a services PMI score of 47.8.
That’s up from 47.7 in October, although it remains beneath the boom-or-bust line of 50 that separates expansion from contraction.
Individually, there was a softer fall in output, but incoming new business declined at a faster pace. There was a renewed reduction in workforce numbers.
Businesses redirected capacity to the completion of pending work, signaled by a quicker fall in outstanding business. Backlogs of work have now decreased in each of the latest 12 months.
The survey also showed that its composite index improved to 48.1 in November from 48.0 in October.