|Month over Month||0.2%||0.2%|
|Year over Year||1.2%||1.7%|
Japan's All Industry Index rose by 0.2 percent (seasonally adjusted) in September to 103.5, after an increase of 0.2 percent in August. The index remains close to levels that have prevailed over the last twelve months and is up just 1.2 percent on a year ago.
The increase in the headline index in September was driven by increases in the construction activity index, up a seasonally adjusted 2.0 percent on the month, and the industrial production index, up 0.6 percent. Offsetting gains in these sectors, the index of tertiary industry activity fell 0.1 percent on the month.
On a quarterly basis, the All Industry Index rose 0.6 percent in the three months to September, up from an increase of 0.4 percent in the three months to June. This could point towards some improvement in GDP growth in the quarter, with construction, industrial production and tertiary activity all seeing positive growth.
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.