Japan's tertiary activity index saw an unexpected decline in March, following a rebound in the prior month, as reported by the Ministry of Economy, Trade, and Industry on Monday.
The seasonally adjusted tertiary activity index fell by 2.4 percent compared to the previous month, reversing a 2.2 percent rise noted in December. Contrary to this outcome, economists had predicted a modest increase of 0.1 percent.
Examining the individual sectors, declines were observed in transport and postal activities, wholesale trade, information and communications, retail trade, finance and insurance, living and amusement-related services, goods rental and leasing, as well as in medical and healthcare services for March.
Conversely, sectors such as electricity, gas, heat supply and water, business-related services, and real estate experienced growth.
On an annual basis, the tertiary activity index decreased by 0.6 percent in March, opposed to a 3.2 percent increase recorded in the previous month.
