Japan Coincident Index Rises in Oct.
Tokyo, Dec. 6 (Jiji Press)--Japan's composite index of coincident economic indicators in October climbed 2.5 points from the previous month, up for the second straight month, the Cabinet Office said Friday.
The coincident index, which reflects current economic conditions, stood at 116.5 against the 2020 base of 100, it said in a preliminary report. The government agency kept its basic assessment unchanged, saying that the index is showing signs of bottoming out.
The increase reflected rosy shipments of investment goods such as semiconductor production equipment, which saw strong exports to China.
Six of the eight component indicators available in the preliminary report made positive contributions to the index.
The indicator for investment goods shipments was buoyed by a large order linked to bridges, in addition to chipmaking gear shipments.
(2024/12/06-19:25)
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