TOKYO (Thomson Financial) - Japan's index of leading economic indicators for October has been revised down to 18.2 from the initial estimate of 20.0, according to government data released Monday.
In September, the index hit zero for the first time since December 1997.
The index of leading economic indicators stayed below the boom-and-bust line of 50 for the second straight month because of unstable financial markets, worry about profit margins and a decline in consumer confidence.
In June and July, the index was above 50 for the first time since June 2006.
A reading above 50 indicates economic expansion over the next 3-6 months, while a reading below 50 suggests contraction.
The leading index is based on 12 indicators, of which data for 11 were available for the revision, with two pointing to expansion and nine pointing to contraction.
The coincident index, which measures the current state of the economy, was revised up to 70.0 from the initial estimate of 66.7.
The coincident index is composed of 11 indicators, of which 10 were available for the revision, with seven pointing to expansion and three pointing to contraction.
The lagging index was revised down to 60.0 from the preliminary reading of 75.0.
This index is made up of six indicators, of which data for five were used in the latest figure, with three pointing to expansion and two to contraction.
(1 US dollar = 113.15 yen)
In September, the index hit zero for the first time since December 1997.
The index of leading economic indicators stayed below the boom-and-bust line of 50 for the second straight month because of unstable financial markets, worry about profit margins and a decline in consumer confidence.
In June and July, the index was above 50 for the first time since June 2006.
A reading above 50 indicates economic expansion over the next 3-6 months, while a reading below 50 suggests contraction.
The leading index is based on 12 indicators, of which data for 11 were available for the revision, with two pointing to expansion and nine pointing to contraction.
The coincident index, which measures the current state of the economy, was revised up to 70.0 from the initial estimate of 66.7.
The coincident index is composed of 11 indicators, of which 10 were available for the revision, with seven pointing to expansion and three pointing to contraction.
The lagging index was revised down to 60.0 from the preliminary reading of 75.0.
This index is made up of six indicators, of which data for five were used in the latest figure, with three pointing to expansion and two to contraction.
(1 US dollar = 113.15 yen)
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