Japan Lagging Index Components
The component series of Japan's lagging index of business conditions in their own units: tertiary industry activity for business services, regular employment, real business fixed investment, household living expenditure, corporation tax revenue, the unemployment rate, contractual cash earnings, core CPI inflation and final demand goods inventories.
| Indicator | 07-2026 | 06-2026 | 05-2026 | 04-2026 | 03-2026 | 02-2026 | 01-2026 | 12-2025 | 11-2025 | 10-2025 | 09-2025 | 08-2025 | 07-2025 | 06-2025 | 05-2025 | 04-2025 | 03-2025 | 02-2025 | 01-2025 | 12-2024 | 11-2024 | 10-2024 | 09-2024 | 08-2024 | 07-2024 | 06-2024 | 05-2024 | 04-2024 | 03-2024 | 02-2024 | 01-2024 | 12-2023 | 11-2023 | 10-2023 | 09-2023 | 08-2023 | 07-2023 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Index of tertiary industry activity, business services | 108.9 | 108.9 | 109.2 | 109.7 | 109.3 | 111.7 | 108.5 | 108.6 | 109.7 | 109.5 | 108.9 | 109.3 | 108.5 | 109 | 108.8 | 107.3 | 109.3 | 109 | 105.6 | 105.3 | 105.8 | 104.6 | 104.4 | 104.7 | 104.2 | 104.7 | 104.3 | 104.8 | 104.7 | 103.7 | 105.3 | 103.8 | 103.5 | 104 | 103.2 | 102.9 | ||
| Index of regular workers employment, change from previous year | 0.5 | 0.5 | 0.6 | 0.8 | 0.8 | 0.8 | 0.8 | 0.9 | 0.7 | 0.9 | 0.9 | 1 | 1 | 1.1 | 1.1 | 0.9 | 1 | 1.1 | 1.1 | 1.1 | 1.4 | 1.2 | 1.3 | 1.3 | 1.4 | 1.2 | 1.1 | 1.2 | 1 | 0.9 | 1.1 | 1 | 0.8 | 0.8 | 0.7 | 0.7 | ||
| Business expenditures for new plant and equipment at constant prices | 127,144 | 127,345 | 127,547 | 127,748 | 128,871 | 129,995 | 131,118 | 130,094 | 129,069 | 128,045 | 128,894 | 129,744 | 130,593 | 131,043 | 131,494 | 131,944 | 130,459 | 128,975 | 127,490 | 127,711 | 127,933 | 128,154 | 126,901 | 125,648 | 124,395 | 125,552 | 126,709 | 127,866 | 129,284 | 130,701 | 132,119 | 128,648 | 125,177 | 121,706 | 121,269 | 120,831 | ||
| Corporation tax revenue | 20,080 | 20,017 | 21,161 | 20,322 | 20,192 | 18,817 | 17,620 | 17,822 | 18,486 | 18,081 | 18,005 | 17,382 | 16,961 | 16,693 | 17,039 | 17,239 | 16,753 | 16,976 | 16,838 | 16,367 | 16,528 | 15,883 | 15,211 | 15,897 | 16,122 | 15,710 | 17,541 | 15,120 | 15,188 | 14,866 | 14,296 | 15,479 | 13,676 | 14,703 | 15,213 | 15,217 | 14,097 | |
| Unemployment rate (inverted) | 2.38 | 2.49 | 2.46 | 2.53 | 2.65 | 2.63 | 2.71 | 2.62 | 2.56 | 2.61 | 2.57 | 2.55 | 2.38 | 2.47 | 2.45 | 2.5 | 2.47 | 2.42 | 2.47 | 2.45 | 2.48 | 2.45 | 2.43 | 2.46 | 2.67 | 2.54 | 2.61 | 2.59 | 2.57 | 2.6 | 2.48 | 2.5 | 2.56 | 2.54 | 2.56 | 2.64 | 2.61 | |
| Contractual cash earnings, manufacturing (nominal) | 116.9 | 116.2 | 116.1 | 114.9 | 114.9 | 114.2 | 113.3 | 113 | 112.7 | 112 | 112.1 | 112 | 112.1 | 111.5 | 110.8 | 109.7 | 109.8 | 109.3 | 108.9 | 108.5 | 108.4 | 108.2 | 107.9 | 107.5 | 107.2 | 107.2 | 106.2 | 105.6 | 105.2 | 105 | 105.3 | 105.4 | 105 | 104.8 | 104.5 | 104.3 | ||
| Producers' inventory index, final demand goods | 105.5 | 102.8 | 98.1 | 101.3 | 101.1 | 103.1 | 102.9 | 101 | 99.5 | 103.4 | 103.2 | 103.5 | 104.7 | 104.2 | 104.6 | 106.2 | 106.8 | 107.5 | 108.1 | 103.7 | 104.8 | 106.4 | 105.7 | 106.7 | 108.2 | 107.1 | 108.9 | 107.6 | 106.8 | 106.8 | 106.5 | 106.8 | 107.8 | 107.3 | 107.2 | 106.5 | 107.4 |
Latest reading
Corporation tax revenue stood at 20,080 100 million yen in Jul 2026. That is +0.3% from Jun 2026 and +18.4% from a year earlier. The series on this page is monthly and runs from Jan 1975 to Jul 2026. Source: Economic and Social Research Institute, Cabinet Office – Indexes of Business Conditions.
- Latest
- 20,080 100 million yen
- Jul 2026
- vs previous period
- +0.3%
- Jun 2026
- vs a year earlier
- +18.4%
About this data
The component series of Japan's lagging index of business conditions in their own units: tertiary industry activity for business services, regular employment, real business fixed investment, household living expenditure, corporation tax revenue, the unemployment rate, contractual cash earnings, core CPI inflation and final demand goods inventories. Source: Indexes of Business Conditions, Economic and Social Research Institute, Cabinet Office.
