Japan's Leading Economic Index Declines to Five-Year Low
April data shows significant drop in Japan's economic activity indicators.
Japan's Cabinet Office reported today a decline in its leading economic index, which measures future economic activity, falling to its lowest level in approximately five years.
The preliminary data for April 2023 indicates that the index decreased to 103.4 points, down from a revised 107.6 points in March.
This drop comes as analysts had anticipated a decline to 104 points.
The latest reading marks the lowest level since the index recorded 99.9 points in August 2020. Additionally, the coincident economic index, which assesses the current economic activity, also fell to 115.5 points in April, down from 115.8 points in the previous month.
Conversely, the lagging economic index, which reflects financial conditions following significant economic changes, increased to 112.5 points in April, compared to 111.2 points in March.
These indicators collectively provide insights into Japan's economic landscape amidst ongoing global economic challenges.
The preliminary data for April 2023 indicates that the index decreased to 103.4 points, down from a revised 107.6 points in March.
This drop comes as analysts had anticipated a decline to 104 points.
The latest reading marks the lowest level since the index recorded 99.9 points in August 2020. Additionally, the coincident economic index, which assesses the current economic activity, also fell to 115.5 points in April, down from 115.8 points in the previous month.
Conversely, the lagging economic index, which reflects financial conditions following significant economic changes, increased to 112.5 points in April, compared to 111.2 points in March.
These indicators collectively provide insights into Japan's economic landscape amidst ongoing global economic challenges.
Translation:
Translated by AI