7/8/2008 21:27
Japan May Leading Economic Index Down 1.2% In May - Conference Board
The leading economic index for Japan decreased 1.2 percent in May, according to information released Wednesday by The Conference Board.The private sector agency also said its coincident index for Japan fell 0.3 percent in May.The leading index, which projects future economic activity, declined for the sixth consecutive month. The Conference Board said positive contributions from stock prices, dwelling units started and the yield spread were more than offset by large drops in new orders for machinery and construction, business failures, and the Tankan business conditions survey.The leading index has been trending lower since mid-2007.
The coincident index, which measures current economic activity, showed negative readings in all categories except industrial production. The Conference Board said weaknesses in the coincident categories have become more widespread than strengths in recent months.
The leading index stood at 81.9 in May, while the coincident index stood at 108.1. The base readings of 100 were established in 1990. Copyright(c) 2008 RealTimeTraders.com, Inc. All Rights Reserved