• SHARE

Tertiary industry activity fell 0.7 percent in November from October for the third consecutive monthly dip, the government said Thursday.

The Ministry of Economy, Trade and Industry’s tertiary industry index came to a seasonally adjusted 105.5 against the 1995 base of 100, the lowest since July 2000, when it marked the same figure.

The third straight monthly drop prompted METI to say the sector has begun to weaken, following declines in industrial production. Until October, the ministry said the trend in the tertiary industry had been almost flat.

“Given it has fallen for three months in a row, there is concern that the tertiary industry index is getting overshadowed,” a ministry official said.

November’s all-industry index, a supply-side measure of economic growth, fell 0.8 percent to 100.8, also down for the third successive month, to its lowest point since April.

Business service providers contributed the most in pulling down the November tertiary industry index, slipping 5.2 percent, while personal services lost 1.9 percent and real estate rental service was down 1.6 percent.

The transport industry saw a 0.6 percent drop amid falls in industrial shipments, the official said.

By contrast, activity rose in most other business categories, with retailers up by 1.2 percent and utilities by 3.1 percent, thanks to winter clothing and heating demand under low temperatures.

Brokerages saw a 4.9 percent gain as large stock market fluctuations boosted trading volume, METI said.

In a time of both misinformation and too much information, quality journalism is more crucial than ever.
By subscribing, you can help us get the story right.

SUBSCRIBE NOW