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Japan’s service sector activity rebounded in December thanks to a boom in international and domestic tourism as COVID curbs were relaxed, a business survey showed on Friday.
The final au Jibun Bank Japan Services purchasing managers’ index (PMI) rose to a seasonally adjusted 51.1 from November’s 50.3, although it came in lower than the flash reading of 51.7 for December.
The index stayed above the 50-mark that separates expansion from contraction for a fourth consecutive month.
The recovery was supported by an increasing number of international tourists as well as a discount campaign for domestic travelers, according to Laura Denman, economist at S&P Global Market Intelligence, which compiled the survey.
Service firms’ demand from overseas increased at the strongest pace since July 2018, the survey showed.
