Financial News: Japan Tertiary Activity Index Rebounds 1.5%, Exceeds Forec

Japan Tertiary Activity Index Rebounds 1.5%, Exceeds Forecast

04/18/2024 - 02:16:00 (RTTNews)

(RTTNews) - Japan's tertiary activity index increased at a faster-than-expected pace in February, according to data from the Ministry of Economy, Trade, and Industry on Thursday.

The seasonally adjusted tertiary activity index rose 1.5 percent month-on-month in February, reversing a 0.5 percent decrease in January. Ecnomists had expected a 0.8 percent increase.

Among the individual components, living and amusement-related services, retail trade, wholesale trade, transport and postal activities, information and communications, finance and insurance, business-related services, electricity, gas, heat supply and water, and goods rental and leasing increased in February.

Meanwhile, medical, health care and welfare, and real estate decreased.

On a yearly basis, the tertiary activity index increased at a faster pace of 2.5 percent in February after a 1.0 percent gain in the prior month. Moreover, it was the quickest increase in six months.

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