Japan PMI Services was finalized at 46.9 in September, up from August’s 45.0. While the reading signal further contraction in activity, the pace was slowest in the current eight-month sequence. PMI Composite was finalized at 46.6, up from 45.2.
Shreeya Patel, Economist at IHS Markit, said: “Japan continues to be impacted by the COVID-19 outbreak… There were some signs of stabilisation, however, with activity falling to the least extent since the pandemic began… “Optimism was also evident regarding the year-ahead outlook. Sentiment returned to positive territory amid hopes of rising demand in the next 12 months. Employment, meanwhile, dropped only marginally. Overall, there are signs of improvement in the sector, however recovery is far from secure.”
