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Japan All Industry Activity Declines For Third Month

Japanese all industry activity declined for the third consecutive month in March, largely reflecting contraction in the construction sector, data from the Ministry of Economy, Trade and Industry showed Monday.

The all industry activity index fell 0.3 percent month-on-month, faster than the 0.1 percent decrease seen in the previous month. Economists were forecasting a 0.1 percent fall.

Construction output plunged 5.1 percent, reversing last month's 4.2 percent growth. Likewise, the tertiary industry activity index was down 0.6 percent after staying flat in February.

Meanwhile, industrial output grew 1.3 percent on a monthly basis, partially offsetting 1.6 percent drop a month ago. The index of government services remained flat in March.

On a yearly basis, all industry activity climbed 5.5 percent in March, much faster than the 1.6 percent increase a month ago.

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