The Ministry of Economy, Trade, and Industry reported on Tuesday that Japan's tertiary activity index experienced a higher-than-anticipated increase in July, following a decline in the previous month.
According to seasonally adjusted figures, the tertiary activity index rose by 1.4 percent month-on-month in July, marking a reversal from the 1.2 percent drop observed in June. This growth exceeded economists' predictions, who had forecasted a more modest 0.8 percent rise.
Breaking down the components, there were notable increases in sectors such as wholesale trade, transport and postal activities, finance and insurance, medical, healthcare and welfare, retail trade, and utilities during July.
Conversely, sectors including information and communications, living and amusement-related services, business-related services, and real estate saw declines.
