Japan's tertiary activity index saw an unexpected decline in May, following a rebound in the previous month, as reported by the Ministry of Economy, Trade, and Industry on Tuesday.
The seasonally adjusted tertiary activity index fell by 0.4 percent month-on-month in May, countering a substantial 2.2 percent increase in April. Economists had anticipated a modest 0.1 percent rise.
Breaking down the components, declines were observed in transport and postal activities, living and amusement-related services, finance and insurance, business-related services, information and communications, and real estate.
Conversely, there were increases in wholesale trade, retail trade, utilities, and goods rental and leasing.
