Japan PMIs for April: services 51.8 (prior 52.0) & composite 50.8 (prior 50.4)

Nikkei/Markit PMIs from Japan for April

Yesterday we got their manufacturing PMI

• Japan Nikkei/Markit Manufacturing PMI April (final): 50.2 (prior 49.2)

Comments from Markit on the services/composite PMIs:

• "As has been the case since the start of the year, Japan's service sector continued to tick along at a modest pace. Domestic demand is holding up, currently supporting activity and keeping the year ahead outlook well anchored. Nevertheless, manufacturing woes continued, which have kept the composite PMI at a subdued level which is indicative of quarterly GDP growth of about 0.2%.
• "With comments from the manufacturing panel highlighting weakness in automobile and semiconductor industries, both key to Japan's foreign trade, the domestic market will need to keep providing support to the Japanese economy."