FX.co ★ Japan Services Growth at 4-Month Low

The S&P Global Japan Services PMI slipped to 52.4 in October 2025, down from a final reading of 53.3 in the previous month, based on preliminary data. This decline marks the lowest point since June, as growth in new orders decelerated due to a continued drop in overseas demand. Meanwhile, only a slight increase in employment was noted. On the pricing front, operating costs surged more quickly, with persistent inflationary pressures fueled by rising labor costs and a depreciating yen. In response, service providers once again hiked their selling prices to safeguard their profit margins. Looking forward, business confidence waned, underscoring mounting worries about demand conditions and cost pressures.