In January, Japan's services sector experienced an accelerated expansion, according to the latest survey from Jibun Bank, which reported a Services PMI of 53.0. This marks an increase from December's PMI of 50.9, pushing further above the critical 50-point threshold that demarcates growth from contraction.
The total volume of new work in the sector saw substantial growth, with the pace of increase strengthening for the second consecutive month, reaching its highest level in six months. The most significant demand growth was observed in the Transport and Storage sector, whereas the Information and Communication sector saw a decline.
Export activities contributed positively to the overall demand in January, marking an increase for the first time in four months and achieving the strongest growth rate since last August. Companies reported a rise in new international business, particularly linked to demand from various regions across Asia.
