Japan's tertiary activity index saw an unexpected decline in June, following two months of growth, according to data released by the Ministry of Economy, Trade, and Industry on Friday.
The seasonally adjusted tertiary activity index fell by 1.3 percent month-on-month in June, in stark contrast to the 0.6 percent increase recorded in May. Economists had anticipated a 0.3 percent rise.
Breaking down the components, sectors such as wholesale trade, transport and postal activities, finance and insurance, medical, health care and welfare, information and communications, and utilities all experienced decreases in May. Conversely, living and amusement-related services, business-related services, real estate, and retail trade sectors showed growth.
