Japan - Nikkei Services PMI (November): 51.6 (prior 52.2)

Nikkei / Markit PMIs from Japan in November, services and composite

Nikkei Services PMI (November) 51.6

• prior was 52.2

Nikkei Composite PMI, 52.3

• prior was 52.3

Key points from Markit:

• Service sector activity and new orders expand at weaker rates
• Employment at Japanese services firms falls for second month running
• Business sentiment strengthens

Amy Brownbill, economist at Markit:

• "Business activity at Japanese services firms increased at a slower rate in November, underpinned by a softer expansion in new orders. Subsequently, employment levels fell for the second month running. A combination of new order growth and a drop in staff numbers consequently led to overcapacity and an increase in work outstanding." "Despite this, service providers remain upbeat towards output growth over the next 12 months, with business sentiment picking up from October's five-month low."