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I noticed that Japan's tertiary sector index for February experienced a monthly contraction of 0.4%.
It's not the best, but at least it fared better than we expected — forecasts were calling for a 0.5% decline.
What stands out, however, is the contrast with the previous month.
Japan's tertiary sector had recorded a significant rebound of 1.70% in January, so this shift from strong growth to contraction is quite marked.
It indicates volatility in Japanese services.
In short, Japan's tertiary sector continues to move irregularly.
The February data isn't disastrous, but it shows that the service economy remains under pressure.
It's worth keeping an eye on how it develops in the coming months.