|Month over Month||0.2%||0.2%||0.0%|
|Year over Year||0.5%||1.2%||0.3%|
Japan's All Industry Index increased to a seasonally adjusted level of 103.5 in October, up 0.2 percent on the month after zero change in September (revised down from an increase of 0.2 percent). The rise in the headline index in October was driven by the tertiary (services) sector, which posted an increase in its activity index of 0.2 percent month-on-month. The index of industrial production, meanwhile, was flat on the month, while the index of activity in the construction sector fell 0.3 percent.
In year-on-year terms, the seasonally adjusted index rose 0.5 percent in October after an increase of 0.3 percent in September (revised down from 1.2 percent). Using unadjusted data, the index fell 0.2 percent year-on-year in October after increasing by 1.2 percent in September.
On a quarterly basis, growth in the seasonally adjusted All Industry Index for the three months to September was revised down from a previous estimate of 0.6 percent to 0.5 percent, slightly up from the increase of 0.4 percent recorded in the three months to June. This is broadly consistent with revisions to the estimate of GDP growth in the three months to September, which was also revised down from an initial estimate of 0.5 percent to 0.3 percent.
The All Industry Index takes a reading of activity in the tertiary index combined with activity in the construction, agricultural and fisheries industries, the public sector and industrial output. This index is considered a close approximation for gross domestic product growth as measured by industrial and service sector output.
The all industry index evaluates the monthly change in overall production by all sectors of the Japanese economy. The index includes the tertiary index which is released a few days before the all industry plus the construction, agricultural and fisheries industries, the public sector and industrial output. The index closely follows Japanese GDP and overall growth figures, providing insight into current levels of Japanese economic expansion.
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