The Conference Board Leading Economic Index® (LEI) for Japan Declines - WTNZ FOX 43 Knoxville, TN

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

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SOURCE The Conference Board

NEW YORK, Sept. 9, 2014 /PRNewswire/ -- The Conference Board Leading Economic Index® (LEI) for Japan declined 0.8 percent in July to 97.4 (2004 = 100), following a 0.8 percent decline in June, and a 1.2 percent decline in May.

At the same time, The Conference Board Coincident Economic Index® (CEI) for Japan, a measure of current economic activity, declined 0.1 percent in July to 95.0 (2004 = 100), following a 0.5 percent decline in June, and a 0.1 percent increase in May.

The recent rate of decline in both the LEI and CEI for Japan accelerated further through July, with weaknesses slightly more widespread than strengths. The sharp contraction in second quarter GDP was mainly due to an increase in the sales tax, the effects of which should be temporary. Taken together, the recent behavior of the LEI and CEI suggests that the rate of economic activity is unlikely to accelerate considerably in the near-term, with downside risks to growth still persisting.

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:


Summary Table of Composite Economic Indexes







Jan to Jul

Leading Economic Index (LEI)

99.0 r

98.2 p

97.4 p

Percent Change

-1.2 r

-0.8 p

-0.8 p

-3.5 p






Coincident Economic Index (CEI)

95.6 r

95.1 p

95.0 p

Percent Change

0.1 r

-0.5 p

-0.1 p

-2.1 p






n.a. Not available     p Preliminary     r Revised
Indexes equal 100 in 2004
Source: The Conference Board All Rights Reserved


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.

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