Investing.com – Japan's leading index of economic health fell less than expected in May, but still indicated that the country's economic recovery is losing momentum, official data showed late Monday.
In a report, the Cabinet Office said Japans index of leading indicators, including stock prices and consumer confidence, fell to 98.7% in May, after falling to 101.7% in April.
Analysts had expected the index to fall to 99.7% in May.
The index operates on a 1-100 scale, a value of less than 50 means most indictors are negative and a value of greater than 50 means most indicators are positive. The greater the distance from the midpoint (50) means that the indicators are more strongly positive or negative.
Following the release of that data the yen was down against the U.S. dollar, with USD/JPY gaining 0.06% to hit 87.83.
In a report, the Cabinet Office said Japans index of leading indicators, including stock prices and consumer confidence, fell to 98.7% in May, after falling to 101.7% in April.
Analysts had expected the index to fall to 99.7% in May.
The index operates on a 1-100 scale, a value of less than 50 means most indictors are negative and a value of greater than 50 means most indicators are positive. The greater the distance from the midpoint (50) means that the indicators are more strongly positive or negative.
Following the release of that data the yen was down against the U.S. dollar, with USD/JPY gaining 0.06% to hit 87.83.