— Drop Led by Transport, Auto Maintenance, Electricity Generation
TOKYO (MNI) – Japan’s tertiary industry index, which measures
spending in the services sector, fell 0.3% on the month in April,
posting the second straight drop after -0.6% in March, data from the
Ministry of Economy, Trade and Industry showed on Tuesday.
The seasonally adjusted index stood at 98.3 (against 100.0 in the
2005 base year) in April, staying below the pre-disaster level at 99.4
marked in February 2011.
Slower transportation and postal services as well as automobile
maintenance and electricity generation led the decrease, offsetting
gains in software services and retail sales of food and beverages.
The service sector employs more than half of Japan’s workforce, and
spending on services such as retailing, dining and travel is closely
tied to changes in income and consumer confidence.
tokyo@marketnews.com
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