Japan's key economic gauge rises 0.1 point in June

15:55, August 06, 2010      

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Japan's coincident composite index ( CI), a key economic gauge which reflects current business conditions, rose 0.1 point in June from the previous month, rising for the first time in two months, the Cabinet Office said in a preliminary report on Friday.

The CI, including industrial production, overtime work hours and retail sales, stood at 101.3 against the 2005 base of 100 in the recording month, the government report said.

The Cabinet Office cited a rise in the index being led by increases in producers' investment goods shipments (excluding transport equipment), the ratio of job offers to job seekers and large industrial power consumption, all of which increased following the previous month's downturn.

The leading composite index, which measures the state of the economy three months ahead, rose 0.3 point in June to 98.9, marking the first monthly rise in three months.

The lagging CI, which reflects economic conditions three months ago, remained flat in June from a month earlier at 83.4 and the diffusion index (DI) of coincident indicators stood at 44.4 in June, dropping from 90.0 in May.

A reading above 50 points indicates an economic expansion, while a reading below 50 indicates contraction, June's figure is the first drop below the key 50 level for the first time in 14 months, the Cabinet Office reported.

The diffusion index of leading indicators registered 30.0 in June, falling from 54.5 in May, marking the first dip below 50 for the first time in 15 months.

The Cabinet Office repeated its recent assessment based on the coincident CI saying the index "shows Japan's economy is improving. "

Source:Xinhua

(Editor:黄蓓蓓)

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