Japan’s Service Sector Shrinks at Fastest Pace in 5 Months: PMI

Japan’s Service Sector Shrinks at Fastest Pace in 5 Months: PMI
Customers have lunch at restaurants next to a record shop which has a large poster on its wall in Tokyo, Japan, on July 4, 2018. Kim Kyung-Hoon/Reuters
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TOKYO—Japan’s services sector activity contracted at the fastest pace in five months in January in a sign businesses faced pressure from a record surge in new coronavirus infections due to the Omicron variant.

The world’s third-largest economy has seen COVID-19 cases surge in recent weeks, forcing the government to roll out tougher curbs across much of the country in response to a rise in hospital admissions driven by Omicron.