Japan Aug service activity growth fastest in 3 months

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Japan Aug service activity growth fastest in 3 months
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TOKYO (Reuters) - Japan's service sector activity expanded at its quickest pace in three months in August, underpinned by robust consumer spending as ...

STORY CONTINUES BELOW THESE SALTWIRE VIDEOSTOKYO - Japan's service sector activity expanded at its quickest pace in three months in August, underpinned by robust consumer spending as inbound tourism regained momentum, a private-sector survey showed on Tuesday.

"A stronger improvement in new orders received by Japanese service firms underpinned an acceleration in business activity growth," said Usamah Bhatti, an economist at S&P Global Market Intelligence. Survey respondents noted stronger consumption thanks to higher customer numbers and demand on the back of a surge in inbound tourists. The number of visitors to Japan in July rose to its highest since the pandemic at 2.32 million people.

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