— Japan June Tertiary Industry Index +0.1% M/M vs May +0.9%
— Japan Tertiary Index Posts 2nd Straight M/M Rise
TOKYO (MNI) – Japan’s tertiary industry index, which measures
spending in the services sector, rose 0.1% on the month in June, posting
the straight second rise but slowing from +0.9% in May, data from the
Ministry of Economy, Trade and Industry showed on Tuesday.
The seasonally adjusted index stood at 99.4 (against 100.0 in the
2005 base year) in June, posting the highest level since 99.8 in
December last year.
But increases in financial services, automobile maintenance and
retail sales of food and cars were nearly offset by declines in civil
engineering, trucking and power supply.
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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