Japan's Service Sector Expansion Slows in October on Weaker Demand
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Japan's services activity expanded at the slowest pace this year in October, reinforcing concerns that the key sector propelling economic growth is softening.
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Although consumption maintained its post-pandemic momentum, the rise in new orders was the weakest since January.
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Employment returned to growth, but retirements offset the overall pace of job creation.
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Business expectations, while optimistic, dipped to a nine-month low as the worsening conflict in the Middle East and slower growth in China cloud the outlook.
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There was some positive news with inflationary pressures easing to a four-month low, even as fuel costs and wages rose.