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Financial News: Japan Tertiary Activity Index Drops More Than Expected

Japan Tertiary Activity Index Drops More Than Expected

02/10/2017 - 00:52:00 (RTTNews)

(RTTNews) - Japan's tertiary activity index declined at a faster-than-expected rate in December, after rising in the previous month, figures from the Ministry of Economy, Trade and Industry showed Friday.

The tertiary activity index dropped a seasonally adjusted 0.4 percent month-over-month in December, reversing a 0.3 percent increase in November.

Economists had expected a 0.2 percent decrease for the month. In October, the index showed no variations.

Among the individual components of the survey, activity was down for wholesale trade, information and communications, retail trade, electricity,gas, supply and water, finance and insurance, medical, health care and welfare, goods rental and leasing.

Meanwhile, activity was up for business-related services, real estate, living and amusement-related services.

On an annual basis, the tertiary activity index climbed 0.6 percent in December, following a 1.5 percent rise in the prior month.

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