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. Japan’s economy expanded at an annualized 2.5 percent in the second quarter, marking the sixth consecutive quarter of growth, as consumer and company spending picked up. 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. 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.