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Japan's Coincident Economic Index Up 1.3 Points in May

Japan's Coincident Economic Index Up 1.3 Points in May

   Tokyo, July 5 (Jiji Press)--Japan's composite index of coincident economic indicators rose 1.3 points from the previous month to 116.5 in May, up for the third consecutive month, the Cabinet Office said in a preliminary report Friday.
   The index for the current economic conditions rose to the highest level since September 2019, reflecting resumptions of vehicle shipments after production halts due to test fraud scandals.
   The government agency revised up its assessment of the index to "halting to fall" from "signaling a possible turning point."
   Of the eight component indicators available in the preliminary report, six contributed positively to the index. Three of them were boosted by increases in production and shipments of vehicles and related devices such as car navigation systems.
   Two indicators for commercial sales climbed also thanks to strong sales of automobiles and semiconductors. Shipments of investment goods including turbines were also brisk.

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AFP-JIJI PRESS NEWS JOURNAL


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