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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
JAPAN
No reaction to Japan Jibun Bank March Final Services PMI, the figure came in at 48.3 from 46.5 previously. Combined with the manufacturing PMI of 52.7 released last week, this brings the composite PMI to 49.9.
- Commenting on the latest survey results, Usamah Bhatti, Economist at IHS Markit, said: "The Japanese services economy signalled a renewed move towards more stable business conditions in March. Latest PMI data indicated softer reductions in both business activity and new orders, with the former falling at the softest pace in 14 months. Some panel members highlighted that the slight easing of restrictions had led to a slow recovery in demand. "Positively, Japanese service providers increased staffing levels for the second successive month, in anticipation of a recovery in demand. Firms were also increasingly optimistic that activity would increase over the coming 12 months. Overall private sector activity broadly stabilised in March, led by a solid expansion in Japanese manufacturing output. Although the larger service sector recorded a further decline, the downturn was the weakest since the onset of COVID-19"
- Fig.1: Services PMI v Household Expenditure
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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