Japan March tertiary industry index -0.4% vs +0.1% m/m expected
Latest data released by METI - 17 May 2019
- Prior -0.6%
Slight delay in the release by the source. The statistic basically measures the total value of services purchased by Japanese businesses over the month.
Although this feeds into the already sluggish Q1 data in the Japanese economy, it is data points like these that continue to suggest that not all is well as the government plans to raise the sales tax later this year in October.
USD/JPY holds weaker still on slightly weaker yields and softer risk mood, now at 109.72 near session lows for the day.