The economic outlook will remain uncertain for months to come, according to a set of economic indexes released Monday by an influential U.S. business research group.
The New York-based Conference Board said its leading index for Japan, a barometer of future growth, decreased 0.6 percent in January from December to 92.3 against the base of 100 for 1990, hurt by broad declines in the manufacturing and financial sectors.
The group said its coincident index for Japan, a key gauge of the current state of the economy, decreased 0.7 percent to 104.1.
“Taken together, the decline in the two composite indexes points to continued uncertainty in Japan’s economy in the coming months,” the group said in a press release.
Ten of the 12 components that make up the leading index decreased in January. The negative contributors to the index include the ratio of prices to unit labor costs in manufacturing, the six-month growth rate of labor productivity, stock prices, new orders for machinery and construction, and overtime in manufacturing.
Four of the six components making up the coincident index fell in January.
The negative contributors are industrial production, real wholesale sales, employment, and wages and salaries.
The Conference Board comprises more than 3,000 corporate and other members in 67 countries.
In a time of both misinformation and too much information, quality journalism is more crucial than ever.
By subscribing, you can help us get the story right.