The Conference Board Leading Economic Index® (LEI) for Japan Declines
NEW YORK, June 9, 2011 /PRNewswire/ -- The Conference Board Leading Economic Index® (LEI) for Japan declined 2.1 percent in April to 94.4 (2004 = 100), following a 0.7 percent decline in March, and a 0.8 percent increase in February.
At the same time, The Conference Board Coincident Economic Index® (CEI) for Japan, a measure of current economic activity, declined 0.3 percent in April to 96.9 (2004 = 100), following a 2.4 percent decline in March, and a 0.6 percent increase in February.
The Conference Board LEI and The Conference Board CEI for Japan continued to decline through April, due mainly to the economic impact of the March 11 earthquake. As a result, the six-month growth rate of the leading economic index has returned to negative territory this month, and the six-month change in the coincident index remained below zero as well. Taken together, the composite indexes and their components suggest that economic activity will likely remain weak in the near term.
About The Conference Board Leading Economic Index® (LEI) for Japan
The composite economic indexes are the key elements in an analytic system designed to signal peaks and troughs in the business cycle. The leading and coincident economic indexes are essentially composite averages of several individual leading or coincident indicators. They are constructed to summarize and reveal common turning point patterns in economic data in a clearer and more convincing manner than any individual component – primarily because they smooth out some of the volatility of individual components.
The ten components of The Conference Board Leading Economic Index® for Japan include:
Operating Profits
Dwelling Units Started
Business Failures
Index of Overtime Worked
Stock Prices (TOPIX)
Six-Month Growth Rate of Labor Productivity
Tankan Business Conditions Survey
Money Supply
Yield Spread
New Orders for Machinery and Construction
For more information including full press release and technical notes:
http://www.conference-board.org/data/bcicountry.cfm?cid=5
For more information about The Conference Board global business cycle indicators: http://www.conference-board.org/data/bci.cfm
About The Conference Board
The Conference Board is an independent business membership and research association working in the public interest. Our mission is unique: To provide the world's leading organizations with the practical knowledge they need to improve their performance and better serve society. The Conference Board is a non-advocacy, not-for-profit entity holding 501 (c) (3) tax-exempt status in the United States. www.conference-board.org.
Summary Table of Composite Economic Indexes |
|||||||
2011 |
6-month |
||||||
Feb |
Mar |
Apr |
Oct to Apr |
||||
Leading Economic Index (LEI) |
97.1 r |
96.4 p |
94.4 p |
||||
Percent Change |
0.8 r |
-0.7 p |
-2.1 p |
-0.7 p |
|||
Diffusion |
85.0 |
55.0 |
40.0 |
70.0 |
|||
Coincident Economic Index (CEI) |
99.6 r |
97.2 p |
96.9 p |
||||
Percent Change |
0.6 r |
-2.4 p |
-0.3 p |
-1.1 p |
|||
Diffusion |
75.0 |
0.0 |
50.0 |
25.0 |
|||
n.a. Not available |
p Preliminary |
r Revised |
|||||
Indexes equal 100 in 2004 |
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Source: The Conference Board |
All Rights Reserved |
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SOURCE The Conference Board
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