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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