Japan's Services Sector Still in Expansion, but at Slower Pace Since August - Forex News by Strategia Forex
USD.JPY bearish after the release of September's services PMI figures

Japan’s Services Sector Still in Expansion, but at Slower Pace Since August

Posted Thursday, October 3, 2019 by
Arslan Butt • 1 min read

Japan’s services sector continues to expand for the 36th consecutive month in September, according to recent data released by Markit. The final Jibun Bank Japan Services PMI for September slipped to 52.8 in September from 53.3 in August, but remained above the 50 threshold indicating expansion.

New work orders continued to rise in September at the same pace seen in July and August while new export sales grew faster. September saw the strongest rise in new external orders since July 2018. While job creation also expanded, new jobs created only registered a moderate increase when compared to the previous month.

Japan’s composite PMI which includes the performance of both manufacturing and services sectors touched 51.5 in September, slightly lower than the reading of 51.9 in August. On the release of this news, the Japanese yen rose slightly, with USD/JPY trading somewhat bearish at around 107.14 at the time of writing.

Check out our free forex signals
Follow the top economic events on FX Leaders economic calendar
Trade better, discover more Forex Trading Strategies

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.
Related Articles
Comments

Leave a Reply

avatar
  Subscribe  
Notify of