Japon PMI Services

The au Jibun Bank Japan Services PMI rose to 50.2 in November 2024, up from 49.7 in the previous month, which had marked the lowest figure in four months, according to a flash reading. The upturn occurred alongside a modest expansion in new orders, with the pace remaining largely unchanged from October. Meanwhile, the decline in overseas orders slowed. Work backlogs rose at the fastest rate in eight months, indicating capacity pressures. In response, firms increased employment levels, achieving the strongest job creation rate since July. On the pricing front, input costs continued to rise significantly, albeit at a softer rate. However, companies transferred these costs to clients through a historically sharp and accelerated increase in selling prices. Lastly, sentiment strengthened.