Japan's slowing services sector reveals that its economy may be losing momentum; in April, the country's services sector contracted at the fastest pace in two years, according to data from the Markit/Nikkei Services Purchasing Managers Index. The service sector, which accounts for about a third of gross domestic product, has been one of the few bright spots since the global financial crisis began last year.
Japan's slowing services sector reveals that its economy may be losing momentum; in April, the country's services sector contracted at the fastest pace in two years, according to data from the Markit/Nikkei Services Purchasing Managers Index. Reuters warned that while Japan may have narrowly escaped a recession in the first quarter, weak domestic and external demand, as well as a strong yen, will hamper its recovery.