|Month over Month||0.2%||0.2%||0.3%||0.2%|
|Year over Year||1.7%||0.6%||-0.8%|
Japan's All Industry Index rose by 0.2 percent (seasonally adjusted) in August to 103.3, after an increase of 0.2 percent in July (revised down from 0.3 percent). This was in line with the consensus forecast. The index remains close to levels that have prevailed over the last twelve months and is up just 1.7 percent on a year ago.
The increase in the headline index in August was driven by the industrial production index, up a seasonally adjusted 1.3 percent on the month after falling by 0.4 percent in July. The index of tertiary industry activity was unchanged in August, while the index of construction activity fell 0.8 percent on the month.
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.