— Japan June Leading Index Unrevised +3.8 Pt M/M; Up for 2 Months

TOKYO (MNI) – Japan’s coincident composite index (CI), which
reflects current business conditions, rose a revised 2.7 points to 108.8
in June (vs. preliminary +2.5 points at 108.6), on a recovery in
quake-ravaged supply chains, Cabinet Office data showed Thursday.

The coincident composite index posted the third straight monthly
rise in June following +2.6 points in May.

All of the 11 sub-indexes comprising the coincident index rose in
June except for operating profits which were not yet available. The
increase was led by industrial output, shipments of investment goods as
well as commercial sales at wholesale and retail levels.

When it released the preliminary June results earlier this month,
the Cabinet Office maintained its overall assessment, saying that the
composite index “indicates that the economy is improving.”

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: June 103.2 (unrevised +3.8 points m/m) vs.
May 99.4 (+3.4 points), posting the second m/m rise in row.

The lagging CI, which reflects economic conditions three months
ago: June 90.5 (revised to +0.1 point m/m from -0.3 point) vs. May 90.4
(-0.5 points), which now showed the first rise in two months.

tokyo@marketnews.com
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