RTTNews reports that final data from IHS Markit showed that Japan's services activity contracted at a slower than initially estimated pace in March.

Japan Services PMI rose to 48.3 in March from 46.3 in February. This was well above the flash score of 46.5 but below the neutral 50.0 mark, suggesting contraction in the sector. The latest reading was the highest since January 2020.

New business inflows fell at a softer pace in the latest survey period. In anticipation of improving orders as the pandemic recedes, Japanese service providers increased employment levels for the second successive month.

Business optimism for activity in the next 12 months strengthened to the highest level since May 2013 in March.