相比之下，服务业领域展现出了不同的景象。Jibun Bank服务业PMI预览值从11月的50.5上升至12月的51.4，达到四个月的高点。尽管经济增长势头增强，但劳动力短缺和成本上升的问题却导致企业信心有所下降。投入成本的攀升促使平均售价以八个月来最快的速度上涨。The Japanese economy's manufacturing activity continued to shrink in December and has entered the sixth month of contraction, while the service sector maintained its growth trend.
The Zhitong Finance App learned that the business survey released on Monday revealed the latest developments in the Japanese economy in December: manufacturing activity continues to shrink and has entered a sixth month of contraction, while the service sector has maintained a growth trend, further highlighting the Japanese economy's deepening dependence on the service industry. Although the initial value of the Japan Manufacturing Purchasing Managers' Index (PMI) announced by Jibun Bank fell slightly from 49.0 in November to 49.5 in December, and the decline narrowed, the index has remained below the 50.0 boom and dry line since June, indicating that manufacturing activity is in a contraction range.
Specifically, S&P global market intelligence economist Osama Bhatti pointed out that demand differentiation between the service industry and manufacturing industry has intensified, and the growth rate of new business for service companies has reached the fastest rate in four months. On the other hand, commodity producers are facing a sharp decline in orders. Business confidence in the manufacturing sector fell to the bottom since May 2022. At the same time, investment inflation accelerated to the highest point in four months, and output prices also soared to a new high since July, highlighting the continuing cost pressure on enterprises.
In contrast, the service sector showed a different picture. The preview value of Jibun Bank's service sector PMI rose from 50.5 in November to 51.4 in December, reaching a four-month high. Despite growing economic growth, labor shortages and rising costs have led to a decline in business confidence. The rise in input costs prompted the average selling price to rise at the fastest rate in eight months.
Taken together, the Japan Composite PMI (covering manufacturing and service industries) index for December released by Jibun Bank was 50.8, up from 50.1 last month. Furthermore, a short quarterly survey released by the Bank of Japan on Friday also showed a slight recovery in confidence among large manufacturers, and non-manufacturers remained optimistic about the business situation over the past three months (up to December). However, weak global demand and the threat of tariff increases proposed by US President-elect Donald Trump have cast a shadow over the business prospects for the next three months, and companies generally expect business conditions to deteriorate.
