Japan: Services PMI leaps to new record in May, firms hiring at fastest rate since 2007

Japan’s Jibun-S&P Global services PMI jumped to 55.9 points in May, beating the previous record of 55.4 points set in April.

The data showed that Japanese companies active in the services sector hired new employees for the fourth consecutive month, the second-fastest pace since September 2007.

The services PMI of Japan confirmed its phase of expansion, as it exceeded the threshold of 50 points, dividing line between the phase of expansion (values ​​above 50 points) and contraction (below 50 points).