Japan Coincident Economic Index Logs 1st Fall in 2 Months

Tokyo, April 7 (Jiji Press)–Japan’s composite index of coincident economic indicators for February fell 1.6 points from the previous month, marking the first decline in two months, the Cabinet Office said Tuesday. The coincident index, which reflects current economic conditions, stood at 116.3 against the 2020 base of 100, according to a preliminary report by the government agency. The Cabinet Office maintained its basic assessment that the index is “halting to fall.” The February decline reflected reduced shipments of electronic components, such as integrated circuits, and semiconductor manufacturing equipment, as well as sluggish China-bound exports due to weak business activity during the Lunar New Year holiday period. The leading index, a barometer of the economy’s performance months ahead, rose 0.3 point to 112.4, up for the ninth consecutive month. The increase reflected higher stock prices and improved consumer sentiment amid a lull in inflation. END [Copyright The Jiji Press, Ltd.]