Economic Buzz: Japan Nikkei Services Sector Expands At Slower Pace In July

Japan services sector continued to expand in July, albeit at a slower pace with a PMI score of 51.3, the latest survey from Nikkei showed on Friday. Thats down from 51.4, although it remains above the boom-or-bust line of 50 that separates expansion from contraction. Individually, employment growth accelerated, but output and new business expanded at softer rates. Price pressures intensified. The survey also showed that Japans composite index fell to a score of 51.8, down from 52.1 in June.