Japan's key economic gauge drops unrevised 0.1 point in May

Updated: 2010-07-20 16:00


Twitter Facebook Myspace Yahoo! Linkedin Mixx

TOKYO - Japan's coincident composite index (CI), which reflects current business conditions, fell an unrevised 0.1 point to 101.2 in May, marking the first drop in 14 months, the Cabinet Office said in a report Tuesday, maintaining the government's preliminary findings.

According to the report, May's decline, following a 0.8 point rise in April, was led by drops in manufacturers' investment goods shipments (excluding transport equipment), commercial sales (both retail and wholesale), industrial output and large industrial power consumption.

Related readings:
Japan's key economic gauge drops unrevised 0.1 point in May Japan signals tax reform, seeks to avoid deadlock
Japan's key economic gauge drops unrevised 0.1 point in May Don't buy Japan's bonds
Japan's key economic gauge drops unrevised 0.1 point in May China buys a net $8.4b of Japan bonds in May
Japan's key economic gauge drops unrevised 0.1 point in May China sets new record investment in Japan bonds amid euro crisis

The leading composite index, which measures the state of the economy three months ahead, was revised downwards to 98.6 against a base of 100 set in 2005, from a preliminary reading of 98.7, marking the second consecutive monthly decline, the cabinet office said.

The lagging CI, which reflects economic conditions in the recent past was also revised downward from a preliminary 83.6 to 83.4 and the diffusion index (DI) of coincident indicators, was revised upwards to 90.0 from  preliminary 88.9 in May, the report said.

However, the coincident DI stayed above the key 50 level at 54. 5, slightly lower than the preliminary reading of 55.0, indicating the economy is in a state of expansion.

The government maintained its assessment of the indexes saying they continue to show signs of improvements.

Paper's Digest

China bags Asiad team tennis title after 24 yrs

Wimbledon semifinalist Li Na led host China to capture the team tennis title on Tuesday at the Asian Games, accomplishing her Asiad tour with three consecutive victories.

China rate rises no panacea to curb inflation: PBOC adviser

European Edition


Russian possessed with TCM

Born into a family of doctors, Maxime became interested in Traditional Chinese Medicine (TCM) at the age of 12, after hearing about TCM theories such as health preservation and recuperation.

Acupuncture takes stab at UNESCO list

Acupuncture and Peking Opera have been selected as candidates for UNESCO intangible cultural heritage status.

The wedding coach comes back to life

A groom carries his bride from a wedding coach in Xuchang, Henan province, Nov 11, 2010. Produced a local factory, various original hand-made wedding carriages were displayed on the streets, attracting young people chasing fashion and an environment-friendly lifestyle.

Mounting inflation pressure tests policy makers
Chinese vice president to visit four nations
Chinese, Russian presidents meet in Seoul on co-op