Japan may be the Land of the Rising Sun, but the makeup of its economy is similar to that of other
developed nations. The service sector is the big domestic boy on the block. And after years of monetary stimulus from their central bank, the latest of which includes controversial negative interest rates, a more accurate moniker might be the Land of the Flat Sun.
According to Reuters, Activity in Japan's services sector expanded in February at the slowest pace in seven months as new business weakened in a worrying sign that the economy is losing momentum, a survey showed on Thursday.
The Markit/Nikkei Japan Services Purchasing Managers Index (PMI) fell to 51.2 from 52.4 in January on a seasonally adjusted basis.
The index remained above the 50 threshold that separates expansion from contraction for the 11th consecutive month but fell to the lowest since July last year.
The index for new business fell to 51.7 from 52.2 in the previous month, with the rate of expansion slower than the average seen over the current 11-month spell of growth, the survey showed.
Overnight Japanese and other Asian shares rallied on the so-called good news about U.S. jobs and higher energy prices. As is MSM's wont the headlines focused on the alleged health of the U.S. economy and rising oil prices warming the hearts of harried investors.
Here is a bit of economic news past over by most.
Just half of the Fed’s 12 districts reported modest or moderate growth since early January, according to the central bank’s “beige book” summary of regional economic conditions released Wednesday. The prior report showed nine districts expanding at that pace.
Three Fed districts cited the financial-market turmoil that kicked off 2016 as one factor behind consumers’ reluctance to spend, along with economic uncertainty and a reluctance to add to existing debt.
You'd have to look for this WSJ story. wsj.com/articles/fed-beige-book-economic-activity-expanded-in-most-districts.
Note the deception on the headline link. The actual blurb headline reads, "Fewer Fed Districts Report Expansion." When did half become most? To be sure, six is fewer than nine. But there is still a confusing deception here whether intentional or otherwise. You decide, knowing what you know about MSM.
Overnight Japanese and other Asian shares rallied on the so-called good news about U.S. jobs and higher energy prices. As is MSM's wont the headlines focused on the alleged health of the U.S. economy and rising oil prices warming the hearts of harried investors.
Here is a bit of economic news past over by most.
Just half of the Fed’s 12 districts reported modest or moderate growth since early January, according to the central bank’s “beige book” summary of regional economic conditions released Wednesday. The prior report showed nine districts expanding at that pace.
Three Fed districts cited the financial-market turmoil that kicked off 2016 as one factor behind consumers’ reluctance to spend, along with economic uncertainty and a reluctance to add to existing debt.
You'd have to look for this WSJ story. wsj.com/articles/fed-beige-book-economic-activity-expanded-in-most-districts.
Note the deception on the headline link. The actual blurb headline reads, "Fewer Fed Districts Report Expansion." When did half become most? To be sure, six is fewer than nine. But there is still a confusing deception here whether intentional or otherwise. You decide, knowing what you know about MSM.
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