Japan JPY

Japan Tertiary Industry Index MoM

Impact:
Low

Latest Release:

Date:
Surprise:
0.1%
Actual:
0.3%
Forecast: 0.2%
Previous/Revision:
-1%
Period: Apr

Next Release:

Date:
Period: May
What Does It Measure?
The Japan Tertiary Industry Index (TII) measures the performance of the tertiary sector, which includes services, retail, and various non-manufacturing industries within the Japanese economy. It focuses on production output in this sector, assessing key areas such as employment, sales volume, and service delivery, with values above 100 indicating growth relative to a baseline period.
Frequency
The Tertiary Industry Index is released monthly, typically on the final business day of the month following the reporting period, and it is published as a final figure without any preliminary estimates.
Why Do Traders Care?
Traders monitor the TII due to its reflection of consumer and business confidence in the services sector, which is crucial for Japan's economy; stronger than anticipated results can positively impact the Japanese yen (JPY) and equities, while weaker data may lead to bearish sentiment. Its significance lies in its ability to inform economic forecasts, influencing decision-making and market positions within the financial markets.
What Is It Derived From?
The TII is derived from data collected through various surveys targeting a broad range of service industries, including accommodations, food services, transportation, and finance. It employs a weighted index calculation method that integrates the performance of each sector, allowing for a comprehensive overview of service sector activity.
Description
The Japan Tertiary Industry Index is an important economic indicator that highlights trends and fluctuations in the service-oriented part of Japan’s economy, playing a critical role in understanding overall economic health. It reflects short-term changes in service production and is analyzed in conjunction with other economic indicators to provide a fuller economic context.
Additional Notes
The TII serves as a coincident economic measure, providing insights into current economic activity rather than trends predicted by leading indicators. Its findings can be contextualized within broader economic conditions, such as consumer spending patterns, which can affect other reports globally, particularly in developed economies.
Bullish or Bearish for Currency and Stocks
Higher than expected: Bullish for JPY, Bullish for Stocks.

Legend

High Potential Impact
This event has a strong potential to move markets significantly. If the 'Actual' value differs enough from the forecast or if the 'Previous' value is significantly revised, it signals new information that markets may rapidly adjust to.

Medium Potential Impact
This event may cause moderate market movement, especially if the 'Actual' deviates from the forecast or there's a notable revision to the 'Previous' value.

Low Potential Impact
This event is unlikely to affect market pricing unless there's an unexpected surprise or a major revision to prior data.

Surprise - Currency May Strengthen
Actual deviated from Forecast on a medium or high impact event and historically could strengthen the currency.

Surprise - Currency May Weaken
Actual deviated from Forcast on a medium or high impact event and historically could weaken the currency.

Big Surprise - Currency More Likely To Strengthen
'Actual' deviated from 'Forecast' more than 75% of historical deviations on a medium or high impact event and may likely strengthen the currency.

Big Surprise - Currency More Likely To Weaken
'Actual' deviated from 'Forecast' more than 75% of historical deviations on a medium or high impact event and may likely weaken the currency

Green Number Better than forecast for the currency (or previous revise better)
Red Number Worse than forecast for the currency (or previous revise better)
Hawkish Supports higher interest rates to fight inflation, strengthening the currency but weighing on stocks.
Dovish Favors lower rates to boost growth, weakening the currency but lifting stocks.
Date Time Actual Forecast Previous Surprise
0.3%
0.2%
-1%
0.1%
-0.3%
-0.2%
0.5%
-0.1%
0%
0.2%
1.4%
-0.2%
-0.3%
-0.1%
0.4%
-0.2%
0.1%
0.2%
-0.3%
-0.1%
-0.3%
0.1%
0.1%
-0.4%
0.3%
-0.1%
-0.1%
0.4%
-0.2%
0.2%
-1.1%
-0.4%
-1.1%
-0.2%
2.2%
-0.9%
1.4%
1%
-1.2%
0.4%
-1.3%
0.3%
0.6%
-1.6%
-0.4%
0.1%
2.2%
-0.5%
1.9%
0.4%
-2.3%
1.5%
-2.4%
0.1%
2.2%
-2.5%
1.5%
0.8%
-0.5%
0.7%
0.3%
0.2%
0.5%
0.1%
0.7%
-0.3%
-1.4%
1%
-0.7%
-0.4%
-0.2%
-0.3%
-0.8%
-0.8%
-1.2%
-1%
-0.2%
0.7%
-0.8%
-0.1%
-0.3%
1.1%
0.2%
0.9%
-0.2%
-0.7%
1.1%
-0.4%
-0.2%
1.2%
-0.2%
1.2%
0.4%
0.9%
0.8%
1.2%
0.5%
-1.5%
0.7%
-1.7%
0.3%
1.7%
-2%
0.7%
-0.4%
0.7%
1.1%
0.9%
0.5%
-0.4%
0.4%
-0.4%
0.1%
0.1%
-0.5%
-0.2%
0.2%
0.5%
-0.4%
0.2%
0.2%
-0.2%
-0.4%
-0.3%
0.7%
-0.1%
0.7%
0.4%
-0.5%
0.3%
-0.6%
-0.2%
-0.4%
-0.4%
-0.2%
0.5%
0.8%
-0.7%
0.8%
0.4%
0.7%
0.4%
0.7%
0.3%
1.3%
0.4%
1.3%
0.1%
-1.8%
1.2%
-1.3%
0.2%
-0.2%
-1.5%
-0.7%
0.3%
0.4%
-1%
0.4%
0.2%
0.7%
0.2%
0.4%
0.9%
1.9%
-0.5%
1.5%
0.7%
0.5%
0.8%
0.5%
-2%
-1.7%
2.5%
-1.7%
-0.3%
-0.6%
-1.4%
-0.6%
1.4%
2.2%
-2%
2.3%
0.1%
-2.7%
2.2%
-2.7%
-0.6%
-0.8%
-2.1%
-0.7%
0.9%
1.1%
-1.6%
1.1%
0.7%
0.3%
0.4%
0.3%
-0.1%
-1%
0.4%
-1.7%
-0.2%
-0.4%
-1.5%
-0.4%
0.3%
-0.6%
-0.7%
-0.7%
0.3%
1.6%
-1%
1%
1.5%
2.3%
-0.5%
1.8%
1.1%
0.8%
0.7%
0.8%
0.6%
-0.5%
0.2%
-0.5%
1.5%
7.9%
-2%
7.9%
1.2%
-2.1%
6.7%
-2.1%
3.2%
-7.7%
-5.3%
-6%
-14.3%
-3.8%
8.3%
-4.2%
-4.7%
-0.7%
0.5%
-0.5%
-0.8%
0.3%
0.3%
0.8%
1.2%
-0.3%
-0.4%
-0.2%
-0.3%
1.4%
0.1%
1.3%
3.9%
-4.6%
-2.6%
-4.6%
0.7%
2.3%
-5.3%
1.8%
-0.6%
0.3%
2.4%
0.4%
-0.2%
0.1%
0.6%
0.1%
0.2%
-0.1%
-0.1%
-0.1%
0.2%
0%
-0.3%
-0.2%
-0.1%
0.8%
-0.1%
0.8%
0.4%
-0.4%
0.4%
-0.4%
0.1%
-0.6%
-0.5%
-0.6%
-0.2%
0.6%
-0.4%
0.4%
-0.3%
-0.5%
0.7%
-0.3%
0.4%
-0.4%
-0.7%
-0.3%
-0.5%
2.2%
0.2%
1.9%
0.9%
-1.2%
1%
-1.1%
-0.4%
0.4%
-0.7%
0.5%
0.3%
0.1%
0.2%
0.1%
0.1%
-0.6%
-0.5%
-0.2%
0.2%
-0.3%
0.1%
-0.4%
1%
0.5%
1%
0.6%
-0.3%
0.4%
-0.3%
-0.2%
0.1%
-0.1%
0%
0.1%
-0.4%
-0.1%
-0.6%
-0.2%
0/0%
-0.4%
-0.2%
0.2%
1.1%
-0.4%
1.1%
0.4%
0.2%
0.7%
0.3%
0.2%
-0.2%
0.1%
-0.2%
-0.1%
-0.1%
-0.1%
-0.2%
0.1%
0.1%
-0.3%
0.1%
-0.2%
0%
-0.1%
-0.1%
-0.5%
1.4%
0.4%
1.2%
0.5%
-0.3%
0.7%
-0.2%
0.1%
0.2%
-0.3%
0.2%
-0.2%
0%
-0.3%
-0.4%
-0.1%
0.3%
-0.3%
0.2%
0%
0.2%
-0.1%
-0.1%
-0.2%
0%
0.1%
0%
-0.2%
0.2%
0.2%
0.3%
0.4%
0.7%
-0.1%
0.8%
0.3%
-1.2%
0.5%
-0.7%
-0.7%
0.7%
1.4%
0.7%
-0.7%
0.7%
-0.7%
-0.2%
-0.1%
-0.5%
-0.1%
0.7%
1.5%
0.4%
-0.6%
1.1%
-0.6%
-0.9%
-0.8%
0.7%
0.9%
-0.4%
-0.4%
0.2%
0.2%
-0.6%
0.1%
0.2%
0.2%
0.3%
0.3%
-0.7%
-0.7%
-0.2%
-0.2%
-1%
-1%
-0.5%
0.4%
-0.5%