Japan revises down coincident index for February

The Japanese government has revised down the composite index of coincident economic indicators for February.

According to the Cabinet Office, the revised coincident index, which reflects current economic conditions, came in as 98.6 against 100 for the base year of 2015, down from 99.2 in the preliminary report released earlier this month.

The index was up 2.5 points from the previous month, compared with the preliminary reading of an increase of 2.8 points.

A rise in the coincident index indicates an expansion of economic activity and a decline alludes to a contraction.

Looking ahead, the February leading index, a yardstick for the economy’s performance months ahead, rose 1.3 points to 98.0. In the preliminary report, the index was up 1.1 points at 97.7. ■

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