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Japan March services sector PMI falls to 50.0 from 51.2 in Feb

37837296.1 (37934962) - 01_04_2016 - JAPAN-ECONOMY_PMI.jpg
Japan's services sector stalled in March in a worrying sign the economy is losing momentum as new business stopped growing, a survey showed on Tuesday.

[TOKYO] Japan's services sector stalled in March in a worrying sign the economy is losing momentum as new business stopped growing, a survey showed on Tuesday.

The Markit/Nikkei Japan Services Purchasing Managers Index (PMI) fell to 50.0 in March from 51.2 in February on a seasonally adjusted.

The index remained above the 50 threshold that separates expansion from contraction for the 12th consecutive month but was at the lowest since services activity started expanding in April last year.

The index for new business fell to 50.0 from 51.7 in the previous month.

In 2014, services accounted for 65 per cent of Japan's gross domestic product, while manufacturing had a 21 per cent share.

REUTERS

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