Indicator Digest - CMS Forex

Services Activity Index

The Tertiary Industry Activity Index measures the change in spending for services. The services sector accounts for one-half of the nation's workers. Increased spending on services can lead to increased consumer spending.

Main Indicator: Tertiary Industry Activity Index

Most Recent Release

April
20th, 2008

Actual

Forecast

Revised Form

-1.7%

-0.5%

0.4%

0.7%

For February
Provided by: Ministry of Economy, Trade and Industry
Official Source: Indicator Page

Demand for services fell in February, the tertiary index showed as it declined 1.7%. With consumers feeling the pinch as a result of high inflation, they are spending less. Companies are also facing higher prices for raw materials and scaled back purchases of services. Despite the poorer data, the Yen was stronger against the Dollar and Pound, reversing the excess moves of Friday. The Yen was still generally weaker against the Euro, Aussie and Kiwi.

Next Release Date: May 19th 2008, 19:50 EST

Table of Past Data

	7/16	8/13	9/17	10/16	11/14	12/16	1/17	2/17	3/16	4/20

Actual	-0.1%	0.1%	-0.5%	1.3%	-1.6%	1.1%	0.1%	-0.6%	0.7%	-1.7%
Forecast	0.2%	-0.2%	-0.4%	1.0%	-1.0%	1.2%	-0.4%	-0.2%	0.6%	-0.5%
Previous	1.6%	-0.1%	0.1%	-0.5%	1.2%	-1.6%	1.2%	0.1%	-0.6%	0.4%
Revised From	N/A	N/A	N/A	N/A	1.3%	N/A	1.1%	N/A	N/A	0.7%

Secondary Indicator: All Industrial Activity Index

Most Recent Release

April
23rd, 2008

Actual

Forecast

Revised Form

-1.4%

-0.5%

0.0%

N/A

For February

All Industries Activity Index y/y: 1.7%, pr. 0.6%

Japan's all-industries index fell 1.4% in February, as weakness in the service sector was a bigger drag on the index that better industrial output activity. For the year, the index was up 1.7% compared to a 0.6% figure in January.

Next Release Date: May 21st 2008, 19:50 EST

Table of Past Data

	7/18	8/20	9/20	10/18	11/20	12/18	1/23	2/20	3/18	4/23

Actual	-0.3%	0.2%	-0.4%	1.0%	-1.6%	1.2%	-0.5%	-0.2%	0.0%	-1.4%
Forecast	0.2%	0.3%	-0.3%	1.1%	-1.4%	1.0%	-0.4%	0.1%	0.1%	-0.5%
Previous	1.2%	-0.3%	0.2%	-0.2%	1.0%	-1.6%	1.2%	-0.5%	-0.4%	0.0%
Revised From	N/A	N/A	N/A	-0.4%	N/A	-0.6%	N/A	N/A	-0.2%	N/A

Past Releases

All Industrial Activity Index

March
18th, 2008

Actual

Forecast

Revised Form

0.0%

0.1%

-0.4%

-0.2%

Tertiary Industry Activity Index

March
16th, 2008

Actual

Forecast

Revised Form

0.7%

0.6%

-0.6%

N/A

For January
Provided by: Ministry of Economy, Trade and Industry
Official Source: Indicator Page

All Industrial Activity Index

February
20th, 2008

Actual

Forecast

Revised Form

-0.2%

0.1%

-0.5%

N/A

For December

Tertiary Industry Activity Index

February
17th, 2008

Actual

Forecast

Revised Form

-0.6%

-0.2%

0.1%

N/A

For December
Provided by: Ministry of Economy, Trade and Industry
Official Source: Indicator Page

All Industrial Activity Index

January
23rd, 2008

Actual

Forecast

Revised Form

-0.5%

-0.4%

1.2%

N/A

Tertiary Industry Activity Index

January
17th, 2008

Actual

Forecast

Revised Form

0.1%

-0.4%

1.2%

1.1%

All Industrial Activity Index

December
18th, 2007

Actual

Forecast

Revised Form

1.2%

1.0%

-1.6%

-0.6%

For October.

Tertiary Industry Activity Index

December
16th, 2007

Actual

Forecast

Revised Form

1.1%

1.2%

-1.6%

N/A

All Industrial Activity Index

November
20th, 2007

Actual

Forecast

Revised Form

-1.6%

-1.4%

1.0%

N/A

For September
Ministry of Economy, Trade and Industry

Tertiary Industry Activity Index

November
14th, 2007

Actual

Forecast

Revised Form

-1.6%

-1.0%

1.2%

1.3%

For September.

All Industrial Activity Index

October
18th, 2007

Actual

Forecast

Revised Form

1.0%

1.1%

-0.2%

-0.4%

For August

For y/y the all-industries index rose 1.7% in August after a decline of 1.4% in July.

Tertiary Industry Activity Index

October
16th, 2007

Actual

Forecast

Revised Form

1.3%

1.0%

-0.5%

N/A

All Industrial Activity Index

September
20th, 2007

Actual

Forecast

Revised Form

-0.4%

-0.3%

0.2%

N/A

Tertiary Industry Activity Index

September
17th, 2007

Actual

Forecast

Revised Form

-0.5%

-0.4%

0.1%

N/A

All Industrial Activity Index

August
20th, 2007

Actual

Forecast

Revised Form

0.2%

0.3%

-0.3%

N/A

The Ministry of Economy, Trade and Industry said that Japan's economic activity rose 0.2% on month in June. The June index rose from 107.3 to 107.5. Looking at the last 3 months, April-June, METI's activity index rose 0.6% from the previous quarter. Good weather was a factor for strong sales in restaurants and hotels, increasing the tertiary services sector up 0.1% in June, while industrial output was up 1.3%. Yen crosses gained slightly after the release.

Tertiary Industry Activity Index

August
13th, 2007

Actual

Forecast

Revised Form

0.1%

-0.2%

-0.1%

N/A

Notable increases in medical, health care and welfare industry (2.2%), eating and drinking places, accomodations industry (1.7%), and compound services, which consist of postal services industry(2.4%), drove the index for tertiary industry activity to a better than expected increase of 0.1%.

All Industrial Activity Index

July
18th, 2007

Actual

Forecast

Revised Form

-0.3%

0.2%

1.2%

N/A

Tertiary Industry Activity Index

July
16th, 2007

Actual

Forecast

Revised Form

-0.1%

0.2%

1.6%

N/A

According to the Ministry of Economy Trade and Industry, The index decreased to 110.2. Industries with largest percentage decrease in activity on the index are information and communications (-3.4%), electricity, gas, heat supply and water (-2.6%). The Industry that grew the most was learning support (+9.5%).