— Japan Aug Prelim Coincident CI -0.2 Pt M/M; MNI Fcast -0.4 Pt
— Japan Aug Coincident CI Posts 5th Straight Monthly Fall
— Japan Maintains View: CI Shows Economy Is Marking Time
— Japan Aug Prelim Leading CI +0.6 Pt M/M; MNI Fcast +0.5 Pt
— Japan Aug Leading CI Posts 1st Rise in 5 Months

TOKYO (MNI) – Japan’s coincident composite index (CI), which
reflects current business conditions, fell for a fifth straight month in
August, hit by global slowdown and fading effects of fiscal programs,
preliminary Cabinet Office data showed Friday.

The coincident CI fell 0.2 points to 93.6 after slumping by 1.1
points in June.

The consensus forecast among economists polled by MNI was for a 0.4
point drop.

In August, six out of the 11 sub-indexes comprising the coincident
index fell, led by industrial output, shipments of durable and capital
goods as well as overtime hours worked.

The Cabinet Office maintained its overall assessment, saying the
composite index shows that “the economy is marking time.”

Japanese exports tumbled for a third straight month in August, down
by 5.8% on year, amid growing uncertainties about overseas demand,
particularly from China and Europe, Finance Ministry data showed.

The latest industry data showed that new vehicle sales fell for the
first time in 13 months in September, down 8.1%, as the government ended
subsidies for buying low-emission vehicles last month.

Meanwhile, the land ministry in July stopped receiving applications
for reward points, which are given to owners of greener homes under
construction or those being renovated to save energy consumption.

The composite index was set at 100 in the 2005 base year.

Other details from the latest data follow:

The leading composite index, which measures the state of the
economy three months ahead: Aug 93.6 (+0.6 point m/m) vs. July 93.0
(-1.1 points), posting the first rise in five months.

The lagging CI, which reflects economic conditions three months
ago: Aug 87.6 (+0.9 point m/m) vs. July 86.7 (-0.1 point), the first
rise in two months.

tokyo@marketnews.com
** MNI Tokyo Newsroom: 81-3-6480-4821 **

[TOPICS: M$J$$$,M$A$$$,MAJDS$]