Japan service sector activity plunges to 22-year low

| May 18, 2011 | 0 Comments
Japan service sector activity plunges to 22-year low

The Ministry of Economy, Trade and Industry today revealed Japanese service sector activity slumped in March due to the earthquake and tsunami.

The twin disasters, which occurred on 11 March, led to a fall in activity with the tertiary industry index, falling 6% to 93.5 from February’s 99.5.

The decline is the steepest since April 1989, said the Ministry.

Meanwhile, the wholesale and retail index fell 8.9%, while hospitality dropped 11%. The transportation industry fell 6.5%.

Tags: , , , , , ,


Comments (0)

Trackback URL | Comments RSS Feed

There are no comments yet. Why not be the first to speak your mind.

Leave a Reply


Visited 1000 times, 3 so far today