Composite Index (Leading and Coincident) in Japan

Oficina del Gabinete · Monthly · Importance 2

118.2 (Jun-26) ABS · index (2020=100) · Mensual · CSV

Period	index (2020=100)
Jun 2026	118.2
May 2026	117.9
Apr 2026	118.1
Mar 2026	116.8
Feb 2026	116.5
Jan 2026	117.9
Dec 2025	114.6
Nov 2025	114.9
Oct 2025	115.7
Sep 2025	115.1
Aug 2025	113.9
Jul 2025	115.0
Jun 2025	115.7
May 2025	115.8
Apr 2025	115.7
Mar 2025	115.8
Feb 2025	116.5
Jan 2025	116.2
Dec 2024	116.3
Nov 2024	115.3
Oct 2024	115.9
Sep 2024	114.2
Aug 2024	114.1
Jul 2024	115.5
Jun 2024	114.8
May 2024	115.5
Apr 2024	114.5
Mar 2024	113.7
Feb 2024	112.8
Jan 2024	113.0
Dec 2023	115.9
Nov 2023	114.9
Oct 2023	115.7
Sep 2023	115.7
Aug 2023	115.4
Jul 2023	115.2
Jun 2023	115.5
May 2023	115.4
Apr 2023	114.9
Mar 2023	114.8
Feb 2023	114.6
Jan 2023	113.0
Dec 2022	113.3
Nov 2022	113.9
Oct 2022	114.2
Sep 2022	114.6
Aug 2022	115.2
Jul 2022	114.0
Jun 2022	113.5
May 2022	111.7
Apr 2022	112.2
Mar 2022	111.9
Feb 2022	111.6
Jan 2022	111.0
Dec 2021	111.4
Nov 2021	111.5
Oct 2021	106.9
Sep 2021	105.1
Aug 2021	107.1
Jul 2021	109.7

Period	index (2020=100)
Jun 2026	116.4
May 2026	116.4
Apr 2026	116.1
Mar 2026	115.4
Feb 2026	114.3
Jan 2026	112.5
Dec 2025	110.5
Nov 2025	109.6
Oct 2025	109.2
Sep 2025	108.0
Aug 2025	106.9
Jul 2025	106.1
Jun 2025	105.2
May 2025	104.3
Apr 2025	104.3
Mar 2025	107.1
Feb 2025	107.1
Jan 2025	107.7
Dec 2024	107.5
Nov 2024	107.7
Oct 2024	108.4
Sep 2024	108.3
Aug 2024	107.3
Jul 2024	109.1
Jun 2024	109.6
May 2024	110.8
Apr 2024	110.4
Mar 2024	111.1
Feb 2024	111.3
Jan 2024	109.9
Dec 2023	110.3
Nov 2023	109.6
Oct 2023	109.5
Sep 2023	110.4
Aug 2023	110.5
Jul 2023	109.8
Jun 2023	110.1
May 2023	109.9
Apr 2023	108.7
Mar 2023	108.9
Feb 2023	109.1
Jan 2023	108.7
Dec 2022	109.6
Nov 2022	110.7
Oct 2022	111.4
Sep 2022	111.5
Aug 2022	113.7
Jul 2022	112.3
Jun 2022	113.2
May 2022	113.3
Apr 2022	114.5
Mar 2022	113.7
Feb 2022	113.3
Jan 2022	114.4
Dec 2021	116.0
Nov 2021	115.4
Oct 2021	113.5
Sep 2021	113.0
Aug 2021	114.4
Jul 2021	116.9

About this indicator

Source	Cabinet Office of Japan (ESRI) - Indexes of Business Conditions
Frequency	Monthly
What it is	Japan's Composite Indexes of Business Conditions (景気動向指数, CI), compiled by the Cabinet Office, condense into a single figure the movement of many economic indicators -output, employment, sales, profits, interest rates, equities and more-. The Leading index anticipates turning points in the cycle, while the Coincident index reflects the current state of the economy. Base 2020=100.
How it's calculated	Each index is built by averaging the standardised rates of change of its components -around eleven in the Leading and ten in the Coincident, such as industrial production, shipments, hours worked and retail sales- and chaining the result into an index level based on 2020=100. The Cabinet Office publishes a Preliminary reading (速報) and, the following month, a Revised one (改訂).
Market implications	The Coincident index is the official reference for determining whether the Japanese economy is expanding or contracting, accompanied by a qualitative assessment from the Cabinet Office itself. The Leading index is used to anticipate turning points several months ahead and is followed by the Bank of Japan and markets as an early cyclical signal.
Limitations	The indices are revised each month, as the Preliminary reading is replaced by the Revised one and historical levels can be recalculated in cascade as components are updated. Any given month's value may therefore change in later releases.