7 August 2006, 09:42  Japan: Index of leading economic indicators fell to 50.0 in June

The index of leading economic indicators fell to 50.0 in June from 77.3 in May, preliminary data from the Cabinet Office show. The figure was in line with the market consensus. A reading above 50 points to economic expansion over the subsequent six months, while a reading below 50 suggests contraction. The leading index is based on 12 indicators, of which data for 10 were available for the preliminary reading, with five suggesting expansion and five pointing to contraction. The coincident index, which measures the state of the economy at the time, rose to 88.9 in June from 80.0 in May. The market consensus estimate was for 88.9. The coincident index is based on 11 indicators, of which data for nine were available for the preliminary reading, with eight pointing to expansion and one suggesting contraction. The lagging index, which reflects economic conditions three months earlier, declined to 75.0 in June from 80.0 in May. The figure was based on four of six indicators used to compute the index, with three suggesting expansion and one contraction.

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