Japan logs fastest growth in service sector activity since August 2015

Nikkei Japan Services PMI for May came-in at 53.00, compared to the previous month’s figure of 52.2. The latest index reading was the best recorded by the survey since August 2015.

Key points

New work enjoyed a sharpest increase in four years

Manufacturers also reported a further increase in input prices in May, with the rate of inflation hitting its lowest level in four months

Confidence was the highest since June 2013

The increase in employment that was the greatest recorded in four years