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Japan service sector business activity falls but at fractional pace
Business activity in Japan’s service sector worsened from a previous month of growth in August, although at a fractional pace. Total new orders, however, remained in growth territory for the third month in a row. Companies continued to expand their workforce numbers over the month, but at a slight pace. Growth in payroll numbers supported a reduction of work-in-hand for the third consecutive month. The headline seasonally adjusted Business Activity Index posted a reading below the neutral 50.0 mark that separates expansion from contraction in August, signalling a deterioration in services output. However, at 49.9, ... (full story)