Services sector activity in Japan continued to contract in May, albeit at a slower rate, the latest survey from Jibun Bank revealed on Wednesday with a PMI score of 26.5.
That’s up from 21.5 in April, although it remains well beneath the boom-or-bust line of 50 that separates expansion from contraction.
Individually, output continued to drop at record levels due to Covid-19 closings.
Demands for Japanese services continued to fall sharply, while employment fell at its sharpest rate since February 2010.
Also, the composite index improved to 27.8 in May – up from the record low 25.8 in April.
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