The key gauge of the state of the economy remained below the boom-or-bust line of 50 percent in February for the 14th straight month, but the index of leading indicators topped the threshold for the second consecutive month, the government said Friday.

The coincident index stood at 33.3 percent in February, up from a revised 10 percent in the previous month, the Cabinet Office said in a preliminary report.

But the leading index, a projection of economic activity six months in the future, was 66.7 percent, compared with a revised 60 percent.