Japan Services Sector Accelerates In November - Jibun

(RTTNews) - The services sector in Australia continued to expand in November, and at a slightly faster rate, the latest survey from S&P Global revealed on Wednesday with a services PMI core of 53.2.

That's up from 53.1 in October and it moves further above the boom-or-bust line of 50 that separates expansion from contraction.

Finance and Insurance firms posted the strongest performance of all five monitored sub sectors, though business activity expanded across the board. There were reports that business development efforts and improved amounts of new work had lifted activity levels in November.

Though expanding modestly overall, the latest survey pointed to the first acceleration in new order growth for three months. This was despite a decline in new export business for the fifth straight month.

The survey also showed that the composite index climbed to 52.0 in November from 51.5 in October.

Composite new orders meanwhile declined again, driven by a fall in manufacturing sector sales, but the overall rate of reduction was only marginal. However, there was a further reduction in foreign demand for both Japanese goods and services.