Japan's Private Sector Growth in December

According to the latest report by S&P Global, Japan's private sector continued its growth trajectory in December. The composite Purchasing Managers' Index (PMI) saw an increase from 50.1 in November to 50.5 in December. Additionally, the services PMI experienced a rise of 0.4 points to 50.9.

"The growth in the service sector and a less pronounced decline in manufacturing output have contributed to a stronger overall expansion of Japanese private sector output. Although the growth remains marginal, new orders have expanded the most since August," stated Usamah Bhatti, an economist at S&P Global Market Intelligence. The service sector recorded an increase in new orders, whereas manufacturing saw a slight decline. Input prices rose more rapidly than in November, and the average prices charged by private sector firms increased at the steepest rate since May. Despite a slight decrease, business expectations remained above average.