Japan's services sector PMI declines in September

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.”