Tertiary Business Activity Index for October 2024: +0.3% m/m
- expected -0.1%, previous -0.2%
This adds to the general development of the data we had earlier in the session (these are linked near the bottom of this post).
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Recent results:
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September 2024: The index went down slightly to 102.3a 0.2% decline from August 102.5.
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August 2024: The index was at 102.5showing a 0.2% increase from July 102.3.
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July 2024: The index stood at 102.3showing a 0.1% rise from June 102.2.
These numbers show little change in Japan's service sector activity in the third quarter of 2024, suggesting relative stability with little month-to-month changes.
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The Index of Tertiary Industry Activity is Japan's leading economic indicator that measures the monthly performance of the service sector, including industries such as retail, finance, real estate and healthcare. This index provides insight into the health and trends of Japan's service-oriented industries, which are a significant part of the country's GDP.
Department Grants:
The Tertiary Business Activity Index covers a number of service sectors, with notable contributions from:
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Wholesale Trade: Accounts for about 15% of the index.
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Medicine, Health Care & Benefits: Adding about 12%.
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Life & Leisure Related Services: Also at 12%.
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Information & Communications: Makes up about 11%.
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Retail Trade and Transport and postal operations: Each contributes 10%.
These categories together provide an overview of the performance of the service industry in Japan.
For more detailed and up-to-date information, you can look at the official reports of the Ministry of Economy, Trade and Industry.
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Earlier today from Japan:
And, ICYMI, the Bank of Japan is meeting this week, on the 18th and 19th. A change in rates is not a consensus. You would think the BoJ could be tempted to walk again with the development for the data at the margin.
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