Japan services PMI hits 19-month high, service charges rise

Japan’s service sector activity expanded for the sixth straight month in March and clocked the fastest pace of expansion in 19-months as companies reported an improvement in demand for their services. 

The Nikkei-Markit PMI for the service sector rise to 52.9 in March from the February reading of 51.3. Confidence was highest in a year. The business expectations index rose to 55.4 from 53.8 in February to mark the fastest growth since April last year.

Though cost inflation eased, the service unit price was significantly higher than the previous month.