Japan's services sector expanded at its fastest pace in nearly two years in February, according to a private survey. The S&P Global final Japan Services Purchasing Managers' Index (PMI) rose to 53.8 from 53.7 in January, marking the 11th consecutive month of expansion. The growth was largely driven by new business, which hit its highest since April 2024. However, the rate of employment growth eared to a three-month low, despite this. Cost pressures increased, leading service providers to raise their selling prices at the fastest rate since April 2014.