Japan Composite PMI Falls to 52.2 in April

Japan's composite purchasing managers' index slipped to a final reading of 52.2 in April, down from 52.4 in March, according to S&P Global data released on Friday. The services PMI stood at 51.0 in April, compared with 51.2 the previous month. Both the composite and services measures stayed above the 50 mark that indicates overall growth in business activity.

The figures mark a modest slowdown in the pace of expansion for the Japanese economy early in the second quarter. The composite index covers both manufacturing and services sectors while the services-only reading provides a view of the larger part of the economy.

The services sector continued to expand, though at a marginally slower rate than in March. The manufacturing component, which is not separately reported in the headline figures here, is incorporated into the composite reading. Economists monitor these indexes closely for early signals on quarterly economic performance.

Readings above 50 for multiple months typically point to sustained growth in output, new orders and employment. The latest data come as businesses and policymakers track the effects of global trade developments and domestic monetary policy on Japanese activity.