The CEIC Leading Indicator for Japan up for the first time in 3 months
The CEIC Leading Indicator for Japan increased confidently in October to 105.54 from 100.34 in the previous month, putting an end to the 3-month long downward trend. The smoothed indicator, on the other hand, kept declining, inching down to 104.39 in October from 105.48 in September, posting its fifth consecutive fall.
There is an improvement observed in the manufacturing sector, with the respective economic sentiment indicator increasing to 52.7 in October from 47.3 in the previous month. Consumer confidence barely changed, while motor vehicle sales maintained their double-digit annual decline rate in October. The local currency depreciated further, reflected in the declining real effective exchange rate index, which supported some big companies' financial results. The equity market index Topix small closed October down to 2,413 from 2,456 points in the previous month, after two consecutive increases.
Further data and analysis on Japan’s economy are available on the CEIC Japan Economy in a Snapshot – Q3 2021 report.