The bank said PMI Services sector in Japan It decreased last October to 49.7 compared to 53.1 during the previous September.
An index reading of more than 50 indicates growth in economic activity for the sector, while a reading of less than 50 indicates a contraction in activity.
Meanwhile, business activity in the services sector recorded its first decline in 4 months, while the pace of new business inflow slowed, partly due to… deflation Renewed exports. Permanent business also declined for the second time in 3 months.
The stagnation in business activity cast a shadow over the outlook for the next 12 months, as the optimism index fell to its lowest levels in 31 months.
On the other hand, the prices of operating supplies rose, while the prices of services remained largely at the same level as the previous month, which represents pressure on the profitability of sector companies.
