JP: Tertiary Index


Wed Oct 12 23:30:00 CDT 2016

Consensus Actual Previous
Month over Month -0.2% 0.0% 0.3%
Year over Year 1.0% 0.8%

Highlights
Japan's Tertiary Index was flat in August, compared with the consensus expectation for a fall of 0.2 percent. This stability in the index reflects an increase in the component index for four of the eleven main industry groups within the services sector, offset by falls in the other seven groups.

In level terms, the original index rose by 1.0 percent year-on-year to 103.5, above its five year average of around 102.5.

Definition
The Tertiary Index measures activity in the service sector and is a key indicator of domestic activity. The index incorporates data wholesale and retail trade, financial services, health care, real estate, leisure and utilities. The report excludes industrial manufacturing sectors that tend to be influenced by foreign demand.

Description
The tertiary index measures output by the service sector. Because this report excludes manufacturing the index is considered a key measure of domestic activity. The index incorporates data from firms involved with wholesale and retail trade, financial services, health care, real estate, leisure and utilities. The report excludes industrial manufacturing sectors that tend to be influenced by foreign demand.