Japan services PMI slows to 52.2 in April
TOKYO -- The Nikkei Japan Services Purchasing Managers' Index, or PMI, fell to 52.2 in April from 52.9 in March.
A reading above 50 indicates economic expansion, while one below 50 points toward a contraction.
"April's survey data indicated a slightly softer rate of service sector expansion, although with manufacturers indicating faster growth over the month, overall economic output is rising at a similar pace to that seen over the first three months of the year," said Paul Smith, senior economist at IHS Markit, which compiles the survey.
"However, a slightly softer trend in new business suggests that Q2 overall may not be quite as strong as the first quarter, but with jobs being created and confidence in the future sustained, the fundamentals for ongoing expansion remain in place," the economist added.
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