03.06.202000:56:00UTC+00Japan Services PMI Ticks Higher In May - Jibun Bank

Services sector activity in Japan continued to contract in May, albeit at a slower rate, the latest survey from Jibun Bank revealed on Wednesday with a PMI score of 26.5.

That's up from 21.5 in April, although it remains well beneath the boom-or-bust line of 50 that separates expansion from contraction.

Individually, output continued to drop at record levels due to Covid-19 closings.

Demands for Japanese services continued to fall sharply, while employment fell at its sharpest rate since February 2010.

Also, the composite index improved to 27.8 in May - up from the record low 25.8 in April.