Japan services activity expands for fifth month, PMI shows

What happened: Japan's service sector expanded in October, with the S&P Global final Japan Services PMI edging higher, marking a fifth straight month of expansion. Key numbers: PMI rose to 51.7 in October from 51.3 in September, below the flash reading of 52.0. New orders grew for a 28th straight month. Why it matters: Business confidence fell to its lowest since March on inflation, ageing population and labour shortage concerns. S&P Global's Annabel Fiddes said whether growth loses momentum and cost pressures ease will matter for the Bank of Japan as it assesses further policy tightening.

Japan's service sector expanded in October, with the S&P Global final Japan Services PMI edging higher, marking a fifth straight month of expansion.

Business confidence fell to its lowest since March on inflation, ageing population and labour shortage concerns. S&P Global's Annabel Fiddes said whether growth loses momentum and cost pressures ease will matter for the Bank of Japan as it assesses further policy tightening.