Financial Wire

Japan Services Activity Slips 0.4% in February

-- Japan's tertiary industry activity index fell 0.4% month over month to 106.3 in February, as declines in retail, wholesale and utilities offset gains in finance, government data showed Monday.

Retail trade dropped 2.7% and wholesale trade fell 2.4%, while electricity, gas and water supply declined 5.3%, weighing on overall activity.

Finance and insurance rose 3.1%, providing the largest positive contribution, while information and communications and leisure-related services also posted modest gains.

On a year-over-year basis, the index rose 1.9%, supported by continued strength in finance and business services.

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Japan Services Activity Slips 0.4% in February | Financial Wire