Japan’s Services Sector Grows at a Faster Pace in June, Supports Economic Growth - Forex News by FX Leaders

Japan’s Services Sector Grows at a Faster Pace in June, Supports Economic Growth

Posted Wednesday, July 3, 2019 by
Arslan Butt • 1 min read

Japan’s services sector continued to grow in June, and at a slightly faster pace, driven by rising domestic demand. The services PMI for Japan released by Jibun Bank climbed to 51.9 from 51.7 in May.

The reading continued to remain above the 50-threshold, indicating an expansion, for the 33rd consecutive month. Even though sales to overseas clients declined, domestic demand stayed strong, helping the figure continue to rise higher.

Amid falling exports driven by the US-China trade war, a strong services sector can offset some pressure on the Japanese economy. Combined readings for services and factory activity reveal that the Japanese economy grew 0.2% YoY in Q2 2019.

On Wednesday, USD/JPY is trading lower at 107.634, at the time of writing.

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About the author

Arslan Butt // Index & Commodity Analyst
Arslan Butt is our Lead Commodities and Indices Analyst. Arslan is a professional market analyst and day trader. He holds an MBA in Behavioral Finance and is working towards his Ph.D. Before joining FX Leaders Arslan served as a senior analyst in a major brokerage firm. Arslan is also an experienced instructor and public speaker.
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