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Japan Services PMI Slips Into Contraction

The services sector in Japan contracted in August, albeit barely, the latest survey from Markit Economics revealed on Wednesday with a purchasing managers' index score of 49.9.

That was down from 50.4 in July, and it slipped below the boom-or-bust score of 50 that separates expansion from contraction.

Among the individual components of the survey, new business growth and payroll numbers remained in expansionary territory.

Markit's composite PMI climbed to 50.8 from 50.2 in the previous month.

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