Financial News: Japan Tertiary Activity Rebounds 0.9%

Japan Tertiary Activity Rebounds 0.9%

03/17/2023 - 02:29:00 (RTTNews)

(RTTNews) - Japan's tertiary activity increased more-than-expected in January after falling in the previous month, data from the Ministry of Economy, Trade, and Industry showed on Friday.

The seasonally adjusted tertiary activity index rose 0.9 percent month-on-month in January, reversing a 0.4 percent fall in December. That was above the 0.5 percent increase expected by economists.

Further, it was the biggest gain in eight months.

Among the individual components, transport and postal activities, retail trade, finance and insurance, medical, health care and welfare, electricity, gas, heat supply and water, living and amusement related services increased at the start of the year.

Meanwhile, information and communications, information services, wholesale trade, financial services, and business related services decreased.

On a yearly basis, tertiary activity climbed at a faster pace of 2.3 percent in January, after a 1.1 percent gain in the prior month.

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