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Financial News: Japan Tertiary Activity Index Falls For Second Month

Japan Tertiary Activity Index Falls For Second Month

09/15/2022 - 02:42:00 (RTTNews)

(RTTNews) - Japan's tertiary activity declined for the second straight month in July, and at a faster-than-expected pace, data from the Ministry of Economy, Trade and Industry showed on Thursday.

The seasonally adjusted tertiary activity index dropped 0.6 percent month-on-month in July, after a 0.4 percent fall in June. Economists had forecast a 0.1 percent slight decrease.

Among the individual components, the indexes for living and amusement-related services, medical, health care and welfare, transport and postal services, wholesale trade, electricity, gas, heat supply and water, business related services, finance and insurance, and goods rental and leasing declined in July.

Meanwhile, information and communications, and real estate increased.

On a yearly basis, tertiary activity rose 1.6 percent in July, after a 2.2 percent gain in the previous month. This was the fourth successive monthly rise.

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