TOKYO (Reuters) - Japan’s index of coincident economic indicators fell in January by the most since the devastating earthquake and nuclear disaster in March 2011 due to weak shipments of cars and smart phone parts.
The coincident index, which includes industrial output, shipments of capital goods, shipments of durable consumer goods, and working hours, was 114.0 in January, down 5.7 points from the previous month, Cabinet Office data showed on Wednesday.
The index of leading economic indicators fell 1.8 points in January to 104.8, down for the second consecutive month, due to increasing inventories of manufactured goods and a decline in new job offers for job seekers who have not graduated from universities.
Japan’s economy has grown for eight consecutive quarters, the longest continuous streak since the 1980s bubble economy, but the leading index suggests the pace of growth will moderate in the future.
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Reporting by Stanley White; Editing by Subhranshu Sahu