The au Jibun Bank Japan Services PMI was revised lower to 50.9 in December 2024 from a flash reading of 51.4. The latest result followed November's print of 50.5, marking the second consecutive month of growth in the service sector and the strongest pace since September. New orders increased for the sixth straight month, with the growth rate reaching its strongest since August. Employment also rose, marking the 15th month of gains, though the rise was modest. Meanwhile, outstanding business accumulated for the second month in a row, with the growth rate marginal but surpassing the long-run series average. Concurrently, export sales declined for the third month. On prices, input cost inflation remained unchanged, attributed to higher raw material and wage costs. Firms partially passed these costs on to clients, leading to a sharp, though steady, rise in prices charged. Finally, sentiment stayed upbeat despite a slight moderation in optimism, which was softer than the average for 2024.(Cay) Newsmaker23
Source: Trading Economi
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