Service activity in Japan grew at a six-month high in May as the consumer climate recovered further after easing restrictions on coronavirus, although high energy and material costs pushed import prices to record highs.
The final PMI for services rose to the seasonally adjusted 52.6 points from 50.7 points in the previous month, with activity remaining well above the 50 points separating the recession from growth.
The figures are the highest growth rate since November 2021 and were better than the seasonally adjusted initial measurement of 51.7 points.
Overall, industry activity saw input prices rise for the 18th consecutive month, citing a wide range of factors, such as rising raw material and fuel costs.
The composite PMI rose to 52.3 points from 51.1 points, marking the highest growth rate in five months.
Source: Capital
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