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Financial News: Japan Tertiary Activity Falls 2.4%

Japan Tertiary Activity Falls 2.4%

05/20/2024 - 02:26:00 (RTTNews)

(RTTNews) - Japan's tertiary activity index decreased unexpectedly in March after rebounding in the previous month, according to data from the Ministry of Economy, Trade, and Industry on Monday.

The seasonally adjusted tertiary activity index dropped 2.4 percent month-on-month in March, reversing a 2.2 percent rise in December. Meanwhile, economists had expected a 0.1 percent increase.

Among the individual components, transport and postal activities, wholesale trade, information and communications, retail trade, finance and insurance, living and amusement-related services, goods rental and leasing, medical, and health care decreased in March.

On the other side, electricity, gas, heat supply and water, business-related services, and real estate increased.

On a yearly basis, the tertiary activity index declined 0.6 percent in March, in contrast to a 3.2 percent gain in the previous month.

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