An index which measures the change in industry activity in Japan revealed this morning that the island nation may be experiencing a tough economic downturn. The Tertiary Industry Activity Index, released by the Ministry of Economy, Trade and Industry (METI), reported a 0.1% decline this month, down from last month's 1.8% growth.
Expectations were for a rise of approximately 0.3%, suggesting the ministry was anticipating a sluggish growth period. The contraction, though, seems to have put some pressure on the already-burdened industrial sector of the global economy. How this will factor into today's JPY trading is already being decided, with sizeable moves in a bearish direction.
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