Japan's service sector activity continued to decline in August but at a slower pace compared to July, new survey data showed on Friday.
Markit Economics said the Nomura services purchasing managers' index rose to a seasonally adjusted 48.7 from 46.3 in July. A reading above 50 indicates expansion while one below suggests contraction.
New work received by Japanese service providers declined in August, although the rate of decline was the slowest in the current four-month period of reduction. Those respondents that reported a decline in new orders widely attributed this to lacklustre client demand.
Meanwhile, the composite PMI, which is a weighted average of the manufacturing and services PMIs, came in at 49.5 in August, up from 48.6 in July.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.