— Adding Revised Diffusion Index from the ninth paragraph
–Japan Nov Leading CI Revised +2.9 Pt M/M Vs Prelim +3.3 Pt
–Japan Nov Leading CI Still Posts 1st M/M Rise in 5 Months

TOKYO (MNI) – Japan’s coincident composite index (CI), which
reflects current business conditions, rose a revised 1.7 points to 102.4
in November (vs. preliminary +1.4 pt at 102.1), posting the first rise
in three months, the Cabinet Office said on Thursday.

It followed a 1.4-point fall to 100.7 in October

The increase in the index in November was led by nine out of 11
sub-indexes. The nine included sales at small manufacturers, commercial
sales at wholesale levels as well as producers’ shipments

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

The Cabinet Office repeated its assessment, based on the November
coincident CI, saying the index “shows Japan’s economy is pausing.”

Other details from the latest data follow:

The leading composite index, which measures the state of the
economy three months ahead: November 100.6 (+2.9 points m/m) vs. October
97.7 (-1.4 points), posting the first m/m gain in five months.

The lagging CI, which reflects economic conditions three months
ago: November 87.8 (-1.0 points m/m) vs. October 88.8 (+0.7 point),
marking the first m/m drop in seven months.

The diffusion index (DI) of coincident indicators: November revised
30.0 (preliminary 33.3) vs. October 30.0, staying below key 50 level for
two straight months.

A reading above 50 points indicates an economic expansion, while a
reading below 50 indicates contraction.

The diffusion index of leading indicators: November revised 45.5
(preliminary 50.0) vs. October 18.2, at or below 50.0 for six
consecutive months. In June the index fell below 50 for the first time
in 15 months.

The lagging DI: November revised 20.0 (preliminary 25.0) vs.
October 80.0.

The DI simply shows which way the economy is headed while the CI
also indicates how strong the changes in business conditions have been
or will be.

tokyo@marketnews.com
** Market News International Tokyo Newsroom: 81-3-5403-4833 **

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