24 April 2001, 08:54 Japan Feb tertiary sector rebounds on improved weather; trend unchanged: METI
TOKYO (AFX-ASIA) - Tertiary sector activity rose sharply in
February compared with the previous month, which saw weakness due to
unfavourable weather, a Ministry of Economy, Trade and Industry
official said.
"The sharp increase in the index is due to the unexpected 5.0 pct
rise in the services sector," the official said.
"This is because of warmer weather during February that contributed
to increased revenue at theme parks and entertainment facilities.
"The trend has not changed because the tertiary index saw a 1.9 pct
rise month-on-month last December and the index tends not to move so
widely," he said.
The retail and wholesale index rose 1.2 pct month-on-month in
February, helped by improvements in the wholesale sector, especially in
machinery and drugs.
The utility sector fell 2.0 pct, with electricity sales down 2.8
pct due to the warmer weather.
"The all-industries sector index was more or less flat for the
first time since the 0.1 pct month-on-month rise seen in March 1999,
although this was due to the 2.1 pct retreat by the mining index," the
official said.
"We cannot predict the March result," he added.
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