Japan's service sector grew in August

Business activity in Japan grew faster in August. Au Jibun Bank’s services sector PMI expanded faster in August, supported by “solid” growth in the services sector. The country’s flash PMI stood at 52.6, down from 52.2 in July. Japan’s manufacturing PMI was in contraction territory for the third month in a row, hitting 49.0. Meanwhile, the services sector saw stronger expansion, with the sector’s PMI rising to 54.3 from 53.8. A reading above 50 indicates expansion, while a reading below 50 indicates contraction.