Japan's service sector gauge increased to 47.5 in July 2024 from 47.0 in June, marking the second consecutive month of gains and the highest level since March. This rise was driven by improvements in household budget trends and the service-related sector. Corporate trends also improved due to a rise in the non-manufacturing industry, and the measure for employment continued to grow. Additionally, the economic outlook index climbed to 48.3 from 47.9, reaching a 3-month high amid hopes for continued economic recovery despite inflation concerns.

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