TOKYO, July 4 - Japan's diffusion index of leading economic indicators for May stood at a preliminary 44.4 on a scale of 100, up from a revised 30.0 a month earlier, the government said on Friday. The leading index, compiled using data such as the number of new job offers, consumer sentiment and Tokyo share prices, is taken to signal economic conditions for the next few months. It was below the 50 level, which marks the difference between expansion and contraction, for the third month in a row.
The coincident index, which indicates current economic conditions, was at a preliminary 61.1 in May, up from a revised 15.0 in April, the Cabinet Office said. The Cabinet Office revises the indices several times before issuing final figures.//