Cyber Monday Deal: Up to 60% off InvestingProCLAIM SALE

Japan Nov coincident indicator index -2.8 points m/m

Published 01/09/2009, 12:02 AM
Updated 01/09/2009, 12:08 AM

TOKYO, Jan 9 (Reuters) - Japan's index of coincident economic indicators fell 2.8 points to a preliminary 94.9 in November from 97.7 in October, government data showed on Friday, signalling that the world's second-largest economy faces an even deeper recession.

The index of leading economic indicators, compiled using data such as the number of new job offers and consumer sentiment, fell 3.7 points to a preliminary 81.5 in November.

The Cabinet Office maintained its assessment on the coincident index, saying the economy was worsening. That phrase is defined as a provisional judgment that the economy is likely to be in recession.

The assessment is decided automatically based on moves in the coincident index in the previous few months.

The Japanese government defines a recession as the period between the peak and trough of the economic cycle, rather than the often used definition of two straight quarters of economic contraction.

The economy contracted in the two quarters to the end of September, and analysts fear it may have shrunk even more sharply in the final quarter of last year. (Reporting by Yuzo Saeki; Editing by Hugh Lawson)

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.