Japan: Nikkei Markit Services PMI 51.9 (prior 52.3) & Composite 52.3 (prior 52.8)

Japan - Nikkei / Markit Services and Composite PMIs for January

Key points made by Markit on the data:

• Output increases at robust pace


• New orders expand at same rate as December"s 17-month record


• Cost inflationary pressures accelerate to 28- month high

Comment from Amy Brownbill, economist at IHS Markit, which compiles the survey:

• "Latest survey data pointed to a further improvement in the Japanese service sector, with business activity increasing at a solid, albeit slightly slower, pace.


• New orders rose at a rate little changed from December"s 17-month record.


• The manufacturing sector also started 2017 on a good footing, further supporting the IHS GDP forecast for Q1 2017 of 1.3% year-on-year growth in real terms


• Both manufacturers and services firms in Japan were upbeat towards output over the coming year.


• Business sentiment at services firms picked up to a nine-month high, backed by greater demand stemming from the preparations in hosting the 2020 Tokyo Olympic Games and new product launches.
  

Japan: Nikkei Markit Services PMI 51.9 (prior 52.3) & Composite 52.3 (prior 52.8)
Japan: Nikkei Markit Services PMI 51.9 (prior 52.3) & Composite 52.3 (prior 52.8)
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