TOKYO (XINHUA) – Japan’s coincident economic index, which tracks current economic conditions, showed continued improvement in October as automobile production and sales recovered, data from the country’s Cabinet Office showed yesterday.
The index rose to 116.5 in October based on the 2020 benchmark of 100, marking an increase of 2.5 points from the previous month and the second consecutive month of gains.
The recovery was driven by a rebound in automobile production and sales, which had previously been affected by certification scandals and typhoon disruptions in August, as well as robust production in semiconductor manufacturing equipment.
Despite the upward trend, the government maintained its assessment for the sixth straight month, stating the economy is “showing signs of stabilising.”
However, the Leading Index, which predicts future economic conditions, fell by 0.3 points to 108.6, marking its first decline in two months.
