Japanese data for the session
Services
- sector lower for the seconde straight month, but still its eleventh successive month of expansion
- slowdown in new order growth
- Confidence was the lowest recorded by the survey for over a year
- Rising backlogs of work encouraged the further expansion of employment
- Firms increased prices fastest since March
- Input prices rose at a broadly similar rate to July
Commenting on the Japanese Services PMI survey data, Paul Smith, Director at IHS Markit, which compiles the survey, said:
- "Although growth of the service sector eased during August, wider expansion of the Japanese economy remains entrenched in a fairly decent growth range heading towards the final month of Q3.
- "Subsequently firms remain confident enough to continue to add to their workforce numbers, and employment continues to rise nicely. "However, a slide in service sector confidence to a 13-month low provides a little concern that growth could continue to falter in the near-term."
Little immediate yen impact (there rarely is for this indicator)
