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Financial News: Japan Tertiary Activity Falls For Fourth Month

Japan Tertiary Activity Falls For Fourth Month

07/13/2020 - 04:34:00 (RTTNews)

(RTTNews) - Japan's tertiary industry activity declined for the fourth month in a row in May, data from the Ministry of Economy, Trade and Industry showed on Monday.

Tertiary industry activity decreased 2.1 percent month-on-month in May, following a 7.7 percent fall in April. This was the fourth consecutive decline.

Data showed that the broad-ranging personal services declined 0.6 percent in May, and broad-ranging business services fell 3.9 percent.

Among components, wholesale trade, information and communication, transport and postal activities, electricity, gas, heat supply and water, medical, health care and welfare, goods rental and leasing, and finance and insurance declined in May.

Meanwhile, retail trade, living and amusement-related services, business related services, and real estate increased from the previous month.

On an annual basis, tertiary activity declined 15.9 percent in May, following a 13.2 percent fall in the prior month.

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