Japan services PMI for April 55.4 (prior 54.9)

Jibun Bank S&P Global PMIs from Japan for April of 2023

Services 55.4

• preliminary 54.9
• prior 55.0
• expansion for the eighth consecutive month
• the strongest rate of business activity expansion since the survey began in September 2007 (surpassing the previous record set in October 2013)

Composite 52.9

• preliminary 52.5
• prior 52.9

more to come

From the report commentary, inflation Inflation Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Read this Term noted!

• A rebound in demand for face-to-face consumer services led to the sharpest rise in service sector output since the survey began in September 2007.
• There were also many reports citing a boost to sales from the recovery in international tourist arrivals and subsequent improvement in new business from abroad.
• Service providers appeared increasingly willing to pass on higher business expenses to customers in April. Efforts to alleviate pressure on margins from higher wages and transportation costs led to the steepest rise in service sector output charges since the sales tax hike in April 2014.

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USD/JPY update, its dribbled back from its earlier highs after the BOJ minutes were published: