The government Wednesday revised slightly upward a key gauge of the state of the economy for October.

The Cabinet Office said in its latest report that the composite index of coincident economic indicators for October stood at 97.7 against 100 for the base year of 2005, up from a preliminary reading of 97.6 released earlier this month.

The revised reading represents a drop of 2.4 points from the previous month.

The composite index of leading economic indicators, which predicts economic developments over the coming months, was also revised upward to 85.2 from a preliminary 85.0, down 4.0 points from September.

The index of lagging indicators, which measures economic performance in the recent past, stood at 98.2, unchanged from a preliminary reading and up 0.3 point from the previous month.