June 5, 2017 9:30 am JST

Japan services PMI rises to 53.0 in May

TOKYO -- The Nikkei Japan Services Purchasing Managers' Index, or PMI, rose to 53.0 in May from 52.2 in April.

A reading above 50 indicates economic expansion, while one below 50 points toward a contraction.

"Concurrently stronger growth in the manufacturing and service sectors during May underpinned the best rise in overall activity in just under three-and-a-half years," said Paul Smith, senior economist at IHS Markit, which compiles the survey.

"Ongoing economic growth is having a positive spill-over effect on the performance of the labor market, with jobs being added at the fastest rate in nearly a decade. Expect this positive trend in employment to continue, with overall business confidence in May the highest in four years," the economist added.

(Nikkei)

See more information online:

http://www.markiteconomics.com/Survey/Page.mvc/PressReleases

Get Insights on Asia In Your Inbox

To read the full story, Subscribe or Log in

Get your first month for $0.99

Redeemable only through the Subscribe button below

Once subscribed, you can…

  • Read all stories with unlimited access (5 articles per month without subscription)
  • Use our smartphone and tablet apps

To read the full story, Subscribe or Log in

3 months for $9
SUBSCRIBE TODAY

Take advantage of this limited offer.
Subscribe now to get unlimited access to all articles.

To read the full story, Update your account

We could not renew your subscription.
You need to update your payment information.

To read the full story, Subscribe or Log in

Once subscribed, you can…

  • Read all stories with unlimited access (5 articles per month without subscription)
  • Use our smartphone and tablet apps

To read the full story, Subscribe or Log in

3 months for $9
SUBSCRIBE TODAY

Take advantage of this limited offer.
Subscribe now to get unlimited access to all articles.

To read the full story, Update your account

We could not renew your subscription.
You need to update your payment information.