Tertiary Industry Activity m/m reflects changes in Japanese domestic service sector in the given month compared to the previous one. Tertiary Industry Activity, announced by METI (Ministry of Economy, Trade and Industry), is a measure of activities of the Japanese tertiary industry.
The index calculation includes all key service sectors, such as information and communications, energy, utilities, transportation, finance, insurance, tourism, banking, education, etc.
Tertiary Industry Index measures the change in the total value of the services purchased by companies. It is a major indicator of economic health.
In Japan, 90% of people used to be farmers and worked in primary industry in the past, but the ratio of tertiary industry has increased in recent decades. However, due to the lack of land suitable for agriculture, it tends not to be a large industry. Some people return to the primary industry because of the poor working environment of the tertiary industry.
Due to the fact that the Japanese economy relies on exports, the data in the service sector usually produces low volatility in the currency market. However, growth that exceeds expectations can be seen as a plus for Japanese yen.
The chart of the entire available history of the "Japan Tertiary Industry Activity Index m/m" macroeconomic indicator. The dashed line shows the forecast values of the economic indicator for the specified dates.
A significant deviation of a real value from a forecast one may cause a short-term strengthening or weakening of a national currency in the Forex market. The threshold values of the indicators signaling the approach of the critical state of the national (local) economy occupy a special place.
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