Japan April services PMI rises to highest in six months

Japan's service sector expanded at the fastest pace in six months, courtesy of a pick up in new orders. The index remained above the 50 threshold, showing expansion for the 19th consecutive month. 

Key points (Source: Reuters)

• Japan April services PMI rises to 52.5 vs 50.9 in March, reaches highest in six months.
• Japan April composite PMI (manufacturing and services) rises to 53.1 vs 51.3 in March.
• New orders expanded at a faster pace than in March.
• Future business expectations eased to the lowest in seven months.
• The survey also showed a drop in business confidence.