The Japanese PMI shows that the economy is experiencing moderate expansion, with the service sector being the main driver of growth for five consecutive months.

The Japan Purchasing Managers' Index data shows that output in the private sector continues to expand moderately, driven once again by service sector activities. Annabel Fiddes of S&P Global Market Intelligence stated that this industry has been driving growth for five consecutive months. New orders are growing at a faster pace, and businesses are confident that orders and commercial activities will continue to increase next year. Optimism about future activities has risen to its highest point since January, with companies expecting demand to become stronger.