Japan Services PMI Rises To 52.2 In June As Activity Returns To Growth

A private survey released Friday showed Japan's services sector returned to expansion in June after stalling in May, but business sentiment remained subdued amid concerns over Middle East tensions and rising cost pressures, according to 36Kr. S&P Global's final Japan services purchasing managers' index (PMI) rose to 52.2 in June from 50.0 in May, indicating a renewed pickup in business activity. A PMI reading above 50.0 signals expansion, while below 50.0 indicates contraction. Aside from May, Japan's services activity has expanded 14 times over the past 15 months, though the pace was described as modest and slightly below the average of the past year.