Nikkei / Markit PMIs for the month just passed. Both down noticeably.
- Services to a two year low
Commenting on the Japanese Services PMI survey data, Joe Hayes, Economist at IHS Markit, which compiles the survey, said:
- "The services sector ended Q3 on a rather disappointing note, with the headline PMI dipping to a two-year low and signalling only a marginal rate of growth in business activity.
- "New business and employment both increased at rates which were broadly in line with their respective current expansionary-period averages, however. This suggests the anaemic output growth observed in September should be transitory, as robust demand pressures and job creation should continue to drive stable growth in business activity.
- "Business sentiment did nudge slightly lower, but remained at a strong level. Survey data also signalled a marked month on month rise in selling prices, indicating that demand conditions are perceived to be able to withstand higher charges."
Earlier in the week we got the: Japan Nikkei Manufacturing PMI for September (final): 52.5 (flash was 52.6)
