Japanese Tertiary Industry Activity Drops In June

(RTTNews) - Japanese tertiary industry activity declined in June from the previous month, the Ministry of Economy, Trade and Industry showed Monday.

The tertiary industry index dipped 0.1% month-on-month in June, in line with economists' expectations. However, the rate of decline slowed from a revised 0.8% drop seen in May. On a yearly basis, tertiary activity grew at a pace of 0.8%, down from 1.2% in May.

The decline in June was largely led by a 3.5% fall in the information and communications industries and a 2.7% drop in the finance and insurance sector. Other sectors that showed monthly decreases in activity were medical, health care and welfare, accommodations, eating and drinking services and transport and postal activities.
Meanwhile, wholesale and retail trade grew 1.2% month-on-month and miscellaneous services, excluding government services rose 2.7%. Further, living-related and personal services and amusement services recorded 1.4% and electricity, gas, heat supply and water moved up 0.4%.