TELETRADER News
2/3, 1:31 AM
(Source: TeleTrader)
Japan's private sector back to growth in January
Japanese private sector activity improved in January, with the Composite PMI Output Index at 50.7, up from 49.7 in December, S&P Global reported on Friday. The Services Business Activity Index grew from 51.1 in December to 52.3 in January.
"The opening month of 2023 saw an ongoing expansion in the Japanese service sector as the post-COVID recovery continued, boosted by the National Travel Discount Programme. Both activity and new business increased at sharper rates in January, but employment decreased amid a number of reports of retirements. Higher fuel costs meant that the rate of input price inflation remained elevated, while selling prices increased at a softer pace," the report stated.