Japan's services sector PMI declines in September

Expansion in Japan’s services sector slowed down in September, data released on Monday showed.

The Markit’s services purchasing managers’ index (PMI) declined to 51.4 last month from the two-year high of 53.7 registered in August.

Meanwhile, the composite PMI reading for September fell to its lowest level since April, as it dropped to 51.2 from August’s 19-month high of 52.9.

“Both service sector activity and new orders expanded at weaker rates towards the end of the third quarter,” said Markit economist Amy Brownbill.

“On a positive note, employment growth resumed in September and at a rate that was the strongest since November last year.

“Meanwhile, cost pressures were evident as purchasing prices increased, albeit at only a modest rate.”