The Conference Board Leading Economic Index® (LEI) for Japan Remains Unchanged

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Apr 09, 2014, 09:00 ET

NEW YORK, April 9, 2014 /PRNewswire/ -- The Conference Board Leading Economic Index® (LEI) for Japan was unchanged in February, remaining at 100.8 (2004 = 100), following a 0.3 percent decline in January and a 0.2 percent decline in December.

At the same time, The Conference Board Coincident Economic Index® (CEI) for Japan, a measure of current economic activity, declined 0.1 percent in February to 96.9 (2004 = 100), following a 0.2 percent increase in January, and a 0.1 percent increase in December.

The leading economic index for Japan did not improve in February and its six-month growth rate has slowed considerably compared to early 2013. Meanwhile, the CEI fell slightly, but its six-month change remains in positive territory. Taken together, the slower growth in the LEI paired with modest growth in the CEI suggests that the current expansion in economic activity is unlikely to accelerate 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


Summary Table of Composite Economic Indexes
	2013		2014				6-month
	Dec		Jan		Feb		Aug to Feb

Leading Economic Index (LEI)	101.1	p	100.8	p	100.8	p
Percent Change	-0.2	p	-0.3	p	0.0	p	2.0	p
Diffusion	80.0		60.0		65.0		90.0

Coincident Economic Index (CEI)	96.8	p	97.0	p	96.9	p
Percent Change	0.1	p	0.2	p	-0.1	p	0.8	p
Diffusion	62.5		75.0		37.5		75.0

n.a. Not available p Preliminary r Revised Indexes equal 100 in 2004 Source: The Conference Board All Rights Reserved

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.

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