Japan's service sector performance landed in line with market expectations in April, according to data released by S&P Global on Friday, APA reports citing Teletrader.
The seasonally adjusted figure showed the Jibun Bank Japan Services Business Activity Index landing at 54.9 to stand above the neutral 50 and mark an overall growth in the sector, despite declining compared to the figure of 55.0 seen in March.
"Japan's private sector continued to expand solidly at the start of Q2, according to latest Flash PMI data, with a resurgent service economy helping to offset a weak manufacturing sector performance," Economist at S&P Global Usamah Bhatti said about the data.
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