The services sector in Japan continued to expand in November, and at a faster pace, the latest survey from Jibun Bank showed on Friday with a PMI score of 53.0.
That's up from 50.7 in October, and it moves further above the boom-or-bust line of 50 that separates expansion from contraction.
Activity increased at the sharpest rate since August 2019, amid the fastest upturn in new business inflows for over two-and-a-years. Despite the improvement in demand conditions and renewed evidence of building capacity pressure, service providers recorded a slight decline in employment levels, the first in four months.
Nonetheless, the level of positive sentiment regarding next year's outlook strengthened for the third month running and was at its highest point since the survey began in September 2007.
The survey also showed that the composite index improved to 53.3 from 50.7 in the previous month.