Japan CI Improving

Japan’s composite index of coincident economic indicators rose for the first time in three months in February, suggesting that the economy has extended its current phase of recovery to 51 months, the third-longest expansion in the postwar period, JijiPress reported. The economic expansion started in December 2012, when the current administration of Prime Minister Shinzo Abe was launched. Despite the long recovery, personal consumption has been slumping as many Japanese people have yet to feel benefits, analysts said. The coincident CI, which reflects current economic conditions, rose 0.4 point from the previous month to 115.5 against 100 for the base year of 2010, the cabinet office said in a preliminary report. The leading CI, a yardstick for the economy’s performance months ahead, was down 0.5 point at 104.4, the government agency said. The cabinet kept its assessment unchanged, saying that the coincident index is “improving.”