Japan's Service Sector Expansion Slows From Five-Month High in August

A business survey released on Monday showed that Japan's service sector expansion eased in September due to slowing commercial activity and new orders, as well as demand suppression from earthquake disruptions. According to S&P Global, the final value of Japan's September Services Purchasing Managers' Index (PMI) fell to 51.3 from August's five-month high of 52.5, down from an initial reading of 51.6. The PMI index uses 50 as the threshold between expansion and contraction, with readings above 50 indicating growth and below 50 indicating shrinkage. Annabel Fiddes, Deputy Director of Economics at S&P Global Market Intelligence, stated: 'PMI survey data indicates that as the third quarter draws to a close, momentum in Japan's service sector has weakened, with business reports showing slowing growth in both commercial activity and new orders.' (Sina Finance)