Japan Services PMI Picks Up Steam In July - Jibun

The services sector in Japan continued to expand in July, and at a faster pace, the latest survey from Jibun Bank revealed on Tuesday with a services PMI score of 53.6.

That's up from 51.7 in June and it moves further above the boom-or-bust line of 50 that separates expansion from contraction.

The sustained and stronger rise in business activity was supported by higher amounts of new orders. Though modest, the latest increase in new work was the quickest seen in three months. There were reports of improved customer numbers and successful business development efforts as having driven sales growth.

However, demand from abroad declined for the first time since last December, and at the steepest rate in just over three years. Some firms linked this to lower tourist numbers amid concerns of a potential earthquake in Japan during July.

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