Latest data released by METI – 13 June 2019
- Prior -0.4%; revised to -0.2%
Slight delay in the release by the source. The statistic basically measures the total value of services purchased by Japanese businesses over the month.
It felt like it’s been a while since we’ve had a positive data point from Japan but given the backdrop of weakening economic conditions, the release here is more of an exception rather than the norm lately. It’s going to take a lot more of data points like these – especially in other areas of the economy – to convince that things are improving.