7/1, 2:35 AM (Source: TeleTrader)
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Japan factory activity expands at softer pace in June

Japan's service sector saw a softer improvement in business activity in June, with the figure rising at a slower pace compared to the rate of expansion seen in May, according to a report released by the IHS Markit on Friday.

The seasonally adjusted figure showed the Jibun Bank Japan Services Business Activity Index landing at 52.7 to stand above the neutral 50, but below the figure of 53.3 seen in May.

"The health of the sector improved at the joint-slowest rate for nine months amid a broad stagnation in new order inflows and slowing output growth," Economist at IHS Markit Usamah Bhatti said. "Panel members often commented that rising price and supply pressures amid sustained disruption and delays had held back activity in the sector."

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