— Japan Feb Prelim Coincident CI +1.0 Pt M/M; MNI Fcast +0.8 Pt
— Japan Govt Ups View: CI Shows Economy is Improving
— Japan Feb Prelim Leading CI +2.1 Pt M/M; MNI Fcast +1.3 Pt
TOKYO (MNI) – Japan’s coincident composite index (CI), which
reflects current business conditions, marked the first rise in two
months in February while the leading index continued to rise, indicating
a gradual recovery amid easing concerns about prospects for the global
economy, preliminary Cabinet Office data showed on Friday.
The coincident CI rose 1.0 point to 93.7 after dipping 0.5 point in
January.
The consensus forecast among economists polled by MNI was for a 0.8
point increase.
In February, eight out of the 11 sub-indexes comprising the
coincident index rose, led by shipments of industrial goods and those of
capital goods.
The Cabinet Office upgraded its overall assessment, saying the
composite index “shows that the economy is improving.”
In the previous month, the government said that CI “indicates that
the economy is at a turning point for an upward move.”
The composite index was set at 100 in the 2005 base year.
Other details from the latest data follow:
The leading composite index, which measures the state of the
economy three months ahead: Feb 96.6 (+2.1 points m/m) vs. Jan. 94.5
(+1.1 points), posting a fourth straight rise
The lagging CI, which reflects economic conditions three months
ago: Feb 85.6 (+2.2 point m/m) vs. Jan 83.4 (-1.5 point m/m), marking
the first rise in two months.
tokyo@marketnews.com
** MNI Tokyo Newsroom: 81-3-5403-4835 **
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