Japan's March service-sector grows at fastest rate in over nine years - PMI

FILE PHOTO: A man walks at the headquarters of Bank of Japan in Tokyo, Japan, January 18, 2023. REUTERS/Issei Kato/File Photo

JAPAN's services sector activity grew at the fastest pace in over nine years in March, a private sector survey showed on Wednesday, suggesting that the post-COVID bounce was gathering steam and providing some offset to a still-weak factory sector.

The final au Jibun Bank Japan Services purchasing managers' index (PMI) rose to a seasonally adjusted 55.0 last month, from February's 54.0, marking the quickest rate of expansion since October 2013.