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12/3/2021, 1:31 AM (Source: TeleTrader)
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Japan's service growth quickest in 27 months

The service sector activity in Japan expanded at the quickest pace for 27 months in November, according to a new report by IHS Markit on Friday. The Services Business Activity Index jumped from 50.7 in October to 53 in November as the country relaxed its coronavirus measures. Meanwhile, the Composite PMI Output Index increased from 50.7 in October to 53.3 in November.

"Both manufacturers and services firms pointed to prominent rises in cost pressures in November, with average input prices rising at the fastest pace since August 2008. That said, they were increasingly confident that activity would rise over the year ahead, with the degree of optimism at a record high. Firms cited hopes that the end of the pandemic would trigger a broad-based demand boost in both domestic and external markets," said Usamah Bhatti, economist at IHS Markit.

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