ID :
16281
Mon, 08/18/2008 - 22:17
Auther :
Shortlink :
https://oananews.org//node/16281
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Japan's key economic gauge revised downward for June
TOKYO, Aug. 18 Kyodo - The government on Monday revised downward a key gauge of the state of the Japanese economy for June but left its basic assessment of the economy as ''worsening'' unchanged from a preliminary report.
The Cabinet Office said in its latest report that the composite index of coincident economic indicators for June stood at 101.6 against 100 for the base year of 2005, down from a preliminary reading of 101.7 released earlier thismonth.
The revised reading represents a drop of 1.7 points from the previous month, aturnaround from May's increase of 1.6 percent from April.
The downward revision stemmed partly from a larger than initially reported fall in the index of output at mines and factories. The index dropped 2.2 percentrather than the earlier reported 2.0 percent.
The revision also came as a result of a poor reading for the ratio of manufacturers' factory utilization, which was not available at the time of thepreliminary report. It showed a 1.8 percent drop, the office said.
The office adopted the composite index, or CI, as the mainstay gauge of theeconomy in place of the diffusion index, or DI, starting from its April survey.
The composite index of leading economic indicators, which predicts economic developments over the coming months, was revised upward to 91.3 from apreliminary 91.2. But the revised reading marked a fall of 1.6 points from May.
The index of lagging indicators, which measures economic performance in the recent past, was revised slightly upward to 102.4 from a preliminary 102.3,down 1.0 point from May.
The Cabinet Office said in its latest report that the composite index of coincident economic indicators for June stood at 101.6 against 100 for the base year of 2005, down from a preliminary reading of 101.7 released earlier thismonth.
The revised reading represents a drop of 1.7 points from the previous month, aturnaround from May's increase of 1.6 percent from April.
The downward revision stemmed partly from a larger than initially reported fall in the index of output at mines and factories. The index dropped 2.2 percentrather than the earlier reported 2.0 percent.
The revision also came as a result of a poor reading for the ratio of manufacturers' factory utilization, which was not available at the time of thepreliminary report. It showed a 1.8 percent drop, the office said.
The office adopted the composite index, or CI, as the mainstay gauge of theeconomy in place of the diffusion index, or DI, starting from its April survey.
The composite index of leading economic indicators, which predicts economic developments over the coming months, was revised upward to 91.3 from apreliminary 91.2. But the revised reading marked a fall of 1.6 points from May.
The index of lagging indicators, which measures economic performance in the recent past, was revised slightly upward to 102.4 from a preliminary 102.3,down 1.0 point from May.
