Japan’s PMI Services was finalized at 53.1 in January, marking a continuous expansion for the 17th month and an improvement from December’s 51.5. PMI Composite was finalized at 51.5, up from prior month’s 50.0, indicating a modest uptick in overall private sector activity for the first time since October.
According to Usamah Bhatti, Economist at S&P Global Market Intelligence, key observations include accelerated growth in business activity, new orders, and the first rise in exports in five months.
Capacity pressures intensified, with the strongest backlog increase since last June and a sharper job creation rate. Business confidence for the year ahead hit an eight-month high, reflecting robust optimism.