Japan's services sector activity at the fastest pace in over nine years in March, a private sector survey showed on Wednesday, suggesting that the post-COVID bounce was gathering steam and providing some offset to a still-weak factory sector.The final au Jibun Bank Japan Services purchasing managers' inde
Japan's services sector activity at the fastest pace in over nine years in March, a private sector survey showed on Wednesday, suggesting that the post-COVID bounce was gathering steam and providing some offset to a still-weak factory sector.
"The Japanese services economy signalled a sharp improvement in demand conditions at the end of the first quarter of 2023 as the dissipating impact of the COVID-19 pandemic and stronger customer confidence combined to boost output and orders," said Usamah Bhatti, economist at S&P Global Market Intelligence.
Business confidence for the coming year logged a 31-month streak of improvement, the quickest rate since June 2022, with the survey citing positive sentiment on hopes for an extended improvement in post-pandemic conditions.
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