— Japan July Tertiary Industry Index -0.8% M/M Vs June Revised +0.2%
— Japan Tertiary Index Posts 1st M/M Drop in 3 Months
TOKYO (MNI) – Japan’s tertiary industry index, which measures
spending in the services sector, fell 0.8% on the month in July, posting
the first drop in three months after a revised 0.2% rise in June, data
from the Ministry of Economy, Trade and Industry showed on Wednesday.
The seasonally adjusted index stood at 98.7 (against 100.0 in the
2005 base year) in July, slipping back to a three-month low.
The decrease was led by wholesale trade in food and beverages and
appliances, trucking services as well as finance and Insurance.
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
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