An index monitoring the services sectors in Japan moved into contraction in April, the latest PMI from Markit Economics revealed on Wednesday - showing a score of 46.4.
That's down from 52.2 in March. A reading above 50 means expansion in a sector, while a score below 50 signals contraction.
It's the second time in three months that the index has fallen - although this time, the decline is squarely connected to the rise in the sales tax.
Output prices were up at a record pace, while business expectations hit their highest level since September.
The composite index came in with a reading of 46.3, down from 52.8 in the previous month.
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May 22, 2026 14:46 ET Minutes of the latest Fed policy session was the highlight of the week along with survey data on the U.S. housing market. In Europe, survey data signaled the trends in the euro area private sector. Further, consumer price inflation data from the U.K. was in focus. In Asia, various economic indicators from China drew attention to the health of the economy.