Japan's service sector activity expanded at a slightly slower pace in July as new business growth eased and cost pressures remained high, but the overall performance of the sector stayed solid amid the fading impact of COVID-19, a private-sector survey showed on Thursday. The final au Jibun Bank Japan Services purchasing managers' index (PMI) slipped to a seasonally adjusted 53.8 last month from 54.0 in June. "Growth in business activity continued to soften from the record highs seen earlier in the year, but remained solid overall," said Usamah Bhatti, an economist at S&P Global Market Intelligence.

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