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Japan's Coincident Economy Index Up 1.0 Point in April

Japan's Coincident Economy Index Up 1.0 Point in April

   Tokyo, June 7 (Jiji Press)--Japan's composite index of coincident economic indicators rose 1.0 point from the previous month to 115.2 in April, up for the second consecutive month, the Cabinet Office said in a preliminary report Friday.
   The rise reflected the resumption of auto shipments after vehicle production was halted due to test fraud scandals at automakers including Daihatsu Motor Co.
   The agency left its assessment of the index unchanged, saying that it is "signaling a possible turning point."
   Five of the eight component indicators used in the preliminary report contributed positively to the index. Auto shipments and oil and other wholesale sales expanded. The industrial production index edged down as output of aircraft engine parts declined.
   The leading index for the performance of the economy months ahead dipped 0.1 point to 111.6, the first decline in three months. Rising prices led to a fall in the consumer confidence index.

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AFP-JIJI PRESS NEWS JOURNAL


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