— Japan Feb Tertiary Index Unchanged M/M; MNI Forecast +0.5%
TOKYO (MNI) – Japan’s tertiary industry index, which measures
spending in the services sector, was unchanged on month in February,
after -0.6% in January and +1.6% in December, data from the Ministry of
Economy, Trade and Industry showed on Friday.
METI announced today the results of its annual review of the
monthly tertiary industry index dating back to January 2011.
The released figure was slightly weaker than the median outlook of
economists of +0.5% m/m.
The seasonally adjusted index stood at 99.2 (against 100.0 for 2005
base year) in February, staying below the pre-disaster level at 99.4
marked in February 2011.
The sub-index measuring scientific research, professional and
technical services rose 6.3% m/m, and that for information and
communications increased 1.7%. The sub-index for wholesale and retail
trade fell 1.4%, and that for transport and postal services declined
1.4%.
The service sector employs more than half of Japan’s workforce, and
spending on services such as retailing, dining and travel is closely
tied to changes in income and consumer confidence.
tokyo@marketnews.com
** Market News International Tokyo Newsroom: 81-3-5403-4835 **
[TOPICS: M$J$$$,M$A$$$,MAJDS$]
