Latest data released by the Japanese Cabinet Office - 9 November 2020
- Prior 88.4; revised to 88.5
- Coincident index 80.8 vs 80.5 expected
- Prior 79.2; revised to 79.4
A pickup in the headline reading hints at a continued gradual recovery in the Japanese economy and that is a positive sign towards the end of Q3.
The index is used as a reference to economic conditions, but most of the indicators used to make up the index has already been released individually - so there isn't much of an impact on this release.
The index basically measures up employment data, consumer confidence, production, housing, and stock market data, etc as its leading indicators to derive the number.
The virus situation in Japan looked like it was going to explode at one point before slowing down, but is threatening a resurgence again in recent weeks.
We will have to see how that translates to economic activity depending on how the situation develops in the coming weeks.