Japan tertiary activity index climbs for second straight month in July, lesser than expected

Japan's tertiary activity index climbed for the second straight month in July, although at a slower-than-expected pace.

The tertiary activity index rose a seasonally adjusted 0.3 percent from June, when it increased by 0.7 percent, slightly below economists' expectations for a 0.4 percent gain, figures from the Ministry of Economy, Trade and Industry showed Friday.

Among the individual components of the survey, activity was up for finance and insurance, retail trade, business related services, goods rental and leasing, information and communications.

At the same time, activity was down for real estate, living and amusement-related services, transport and postal activities, electricity, gas heat supply and water, medical, health care and welfare.

Meanwhile, on a yearly basis, the tertiary activity index edged higher 0.1 percent in July, following a 0.5 percent rise in the prior month.