JAPAN DATA: The coincident composite index (CI),…..

JAPAN DATA: The coincident composite index (CI), which reflects current
business conditions, expected to show improvement in June from May,
backed by strong industrial output, which has major impact on coincident
CI. Adjusted industrial output rose prelim 3.9% m/m in June, after +6.2%
in May, +1.6% April and record -15.5% March. June coincident CI expected
to have risen about 2.4 points to 108.7 in June from May, posting 3rd
straight m/m rise, after revised 2.7-point rise in May, according to
economists polled by Market News International. Many said the government
is expected to maintain its assessment based on the coincident CI,
saying the index shows Japan’s economy “improving.” The leading CI,
which measures state of economy 3 months ahead, seen to have increased
about 3.8 pts to 103.4 in June, showing the second rise. The Cabinet
Office will release May CI data at 1400 JST (0500 GMT) Friday, Aug. 5.