The Conference Board Leading Economic Index (LEI) for Japan increased 1.7 percent, and The Conference Board Coincident Economic Index (CEI) increased 0.2 percent in October.
Leading indicators: Nine of the 10 components that make up The Conference Board LEI for Japan increased in October. The positive contributors to the index – in order from the largest positive contributor to the smallest – include the six-month growth rate of labor productivity, real operating profits, the index of overtime worked, real money supply, the Tankan business conditions survey, the (inverted) business failures, interest rate spread, dwelling units started, and the new orders for machinery and construction component. The negative contributor was stock prices.
With the increase of 1.7 percent in October, The Conference Board LEI for Japan now stands at 87.8 (2004=100). Based on revised data, this index increased 2.7 percent in September and increased 3.1 percent in August. During the six-month span through October, the index increased 18.0 percent, and seven of the 10 components advanced (diffusion index, six-month span equals 70.0 percent).
Coincident indicators: Three of the four components that make up The Conference Board CEI for Japan increased in October. The positive contributors to the index – in order from the largest positive contributor to the smallest – include the retail, wholesale, and manufacturing sales component, wage and salary income, and industrial production. The number of employed persons declined in October.
With the increase of 0.2 percent in October, The Conference Board CEI for Japan now stands at 95.7 (2004=100). Based on revised data, this index increased 0.3 percent in September and increased 0.5 percent in August. During the six-month span through October, the index increased 2.5 percent, and three of the four components advanced (diffusion index, six-month span equals 75.0 percent).
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