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

Jul 09, 2013, 21:00 ET from The Conference Board

NEW YORK, July 9, 2013 /PRNewswire/ -- The Conference Board Leading Economic Index® (LEI) for Japan increased 0.8 percent in May to 98.6 (2004 = 100), following a 0.5 percent increase in April, and a 2.6 percent increase in March.

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

The Conference Board LEI for Japan has been increasing in the last six months. As a result, the growth of the LEI has picked up sharply. At the same time, the rising trend in The Conference Board CEI for Japan has continued through May of this year. Taken together, the continued improvements in both the LEI and CEI suggest that the economy is likely to continue expanding at the current rate in the coming months.

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






Nov to May

Leading Economic Index (LEI)

97.3 p

97.8 p

98.6 p

  Percent Change

2.6 p

0.5 p

0.8 p

7.2 p






Coincident Economic Index (CEI)

96.6 p

96.8 p

96.9 p 

  Percent Change

-0.1 p

0.2 p

0.1 p

0.7 p






n.a. Not available      p Preliminary      r Revised

Indexes equal 100 in 2004

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