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

Aug 09, 2011, 21:00 ET from The Conference Board

NEW YORK, Aug. 9, 2011 /PRNewswire/ -- The Conference Board Leading Economic Index® (LEI) for Japan increased 0.1 percent in June to 94.3 (2004 = 100), following a 0.4 percent decline in May, and a 2.0 percent decline in April.

At the same time, The Conference Board Coincident Economic Index® (CEI) for Japan, a measure of current economic activity, increased 0.7 percent in June to 98.1 (2004 = 100), following a 0.7 percent increase in May, and a 0.2 percent decline in April.

The Conference Board LEI for Japan increased slightly in June for the first time since the March earthquake, but its six-month growth remained negative. Meanwhile, The Conference Board CEI for Japan has increased for two consecutive months, and its six-month decline has become smaller than in the previous three months. Taken together, the composite indexes and their components suggest that economic activity will remain weak in the near term, although the weakness could become more moderate.

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:

For more information about The Conference Board global business cycle indicators:

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.

Summary Table of Composite Economic Indexes






Dec to Jun

Leading Economic index (LEI)

94.6 p

94.2 p

94.3 p

Percent Change

-2.0 p

-0.4 p

0.1 p

-1.0 p






Coincident Economic Index (CEI)

96.7 p

97.4 p

98.1 p

Percent Change

-0.2 p

0.7 p

0.7 p

-0.5 p






n.a. Not available   p Preliminary   r Revised

Indexes equal 100 in 2004

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SOURCE The Conference Board