Japan March tertiary index down 2.2 pct from Feb, first fall in 3 months |
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Fri, 18 May 2007 01:13
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TOKYO (XFN-ASIA) - The tertiary index, which measures spending in the services sector, fell 2.2 pct in March from February,the first fall in three months, the Ministry of Economy, Trade and Industry said, citing preliminary data.The index stood at 108.3 last month, down from February's 110.7, which was the highest level since January 1988. That followed a 1.0 pct rise in February from the previous month.Year-on-year, the index increased 0.7 pct in March after a 1.7 pct gain in February.The services sector employs more than half of Japan's workforce, and spending on services such as retailing, dining and travel is closely tied to changes in income and consumer confidence.(1 usd = 121.28 yen)kaori.kaneko@xfn.comkk/mas
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