JP: Tertiary Index


Mon May 15 23:30:00 CDT 2017

Actual Previous
Month over Month -0.2% 0.2%
Year over Year 0.3% -1.3%

Highlights
Japan's Index of Tertiary Industry Activity fell 0.2 percent on the month in March after gaining 0.2 percent in February. A drop in the component index for four of the eleven main industry groups within the services sector outweighed more modest increases in the index for six other groups, with one group showing no change. Industries providing services to consumers recorded a decline in their activity of 0.6 percent on the the month, while those providing services to businesses recorded an increase of 0.9 percent.

The original index advanced 0.3 percent on the year in March, improving from a fall of 1.3 percent in February. The weakness in the index in February was likely driven to some extent by the timing of lunar new year holidays in Asia.

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.