Japan Tertiary Industrial Activity Unexpectedly Declines In May

  @ibtimes on July 15 2009 11:01 PM

RTTNews - Tertiary industrial activity in Japan fell a seasonally adjusted 0.1% month-on-month in May, after rising 2.2% in the preceding month, the Ministry of Economy, Trade and Industry said Thursday. Economists expected an increase of 0.4%.

Year-on-year, the tertiary industrial activity was down 6.8% in May,on an unadjusted basis, faster than a 6.1% fall in the preceding month. Moreover, the activity index has been declining continuously since August last year.

On a monthly basis, activity decreased the most in compound services by 4.6%, followed by a 4.1% drop in scientific research, professional and technical services. Activity also declined in finance and insurance, recreational services, medical and healthcare as also in learning support.

However, activity rose in wholesale and retail trade, information and communication, transport and postal services, utilities, accommodations, eating and drinking services as also real estate, rental and leasing sectors.

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