Japan’s coincident index rises for first time in three-months, raising view

Economy

FILE PHOTO: Pedestrians wearing protective masks amid the coronavirus disease (COVID-19) outbreak, make their way in Tokyo, Japan, February 2, 2021. REUTERS/Kim Kyung-Hoon
FILE PHOTO: Pedestrians wearing protective masks amid the coronavirus disease (COVID-19) outbreak, make their way in Tokyo, Japan, February 2, 2021. REUTERS/Kim Kyung-Hoon

TOKYO (Reuters) - Japan’s coincident indicator index rose for the first time in three months in January, the Cabinet Office said on Monday, supported by brisk exports and factory output despite the coronavirus impact remains.

The index of coincident economic indicators, which consists of a range of data including factory output, employment and retail sales, gained a preliminary 3.5 points from the previous month to 91.7 in January, the Cabinet Office said.

The government raised its views on the index to say the economy was at a turning point, heading upward.

The index of leading economic indicators, which is a gauge of the economy a few months ahead and is compiled using data such as job offers and consumer sentiment, grew 1.4 points, to 99.1.

(Reporting by Kaori Kaneko; Editing by Ritsuko Ando)

Reuters