Financial News: Japan Tertiary Activity Falls Unexpectedly In March

Japan Tertiary Activity Falls Unexpectedly In March

05/19/2023 - 04:04:00 (RTTNews)

(RTTNews) - Japan's tertiary activity index declined for the first time in three months in March, according to data from the Ministry of Economy, Trade, and Industry on Friday.

The seasonally adjusted tertiary activity index dropped 1.7 percent month-on-month in March, reversing a 1.7 percent rise in February. Meanwhile, economists had expected a 0.3 percent gain for the month.

Among the individual components, transport and postal activities, finance and insurance, goods rental and leasing, information and communications, medical health care and welfare, living and amusement related services, real estate, electricity, gas, heat supply and water, goods rental and leasing decreased in March.

Meanwhile, business related services, retail and wholesale trade increased at the end of the first quarter.

On a yearly basis, tertiary activity index rose at a slower pace of 1.7 percent in March, after a 4.4 percent gain in the prior month.

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