Japan Leading Index Contributions
How much each component series contributed to the month-on-month change of Japan's leading composite index, plus the trend factor of the coincident indicators.
| 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Trend factor of the coincident indicators | 0.16 | 0.12 | 0.11 | 0.08 | 0.1 | 0.14 | 0.15 | 0.13 | 0.14 | 0.16 | 0.23 | 0.26 | 0.31 | 0.43 | 0.49 | 0.37 | 0.18 | 0.14 | 0.12 | 0.12 | 0.1 | 0.11 | -0.02 | 0.01 | 0.04 | 0.02 | -0 | -0.01 | -0.03 | -0.05 | -0 | 0.02 | -0.01 | -0.03 | 0.01 | -0.03 | -0.03 | |
| Producers' inventory ratio index, final demand goods (inverted) | -0.06 | -0.53 | -0.03 | -0.16 | 0.56 | -0.41 | 0.44 | -0.11 | 0.14 | 0.11 | 0.26 | -0.05 | -0.02 | -0.03 | 0.3 | 0.02 | -0.04 | 0.04 | -0.28 | 0.09 | -0.21 | 0.26 | 0.44 | -0.32 | 0.2 | -0.22 | 0.52 | -0.26 | -0.54 | 0.45 | -0.41 | 0.28 | -0.44 | 0.28 | 0.05 | 0.04 | -0.04 | |
| Producers' inventory ratio index, producer goods (inverted) | 0.89 | -0.33 | -0.2 | 0.48 | 0.28 | -0.38 | 0.85 | -0.13 | -0.05 | 0.36 | 0.07 | -0.09 | 0.02 | -0.2 | 0.08 | 0.09 | -0.18 | 0.06 | 0.5 | -0 | -0.19 | -0.06 | 0.24 | -0.4 | 0.15 | -0.29 | 0.27 | 0.12 | -0.54 | 0.61 | -0.06 | 0.38 | 0.09 | -0.43 | 0.61 | 0.33 | -0.01 | |
| New job offers, excluding new school graduates | 0.11 | 0.12 | -0.28 | 0.23 | 0.55 | -0.44 | -0.04 | 0.16 | 0.25 | -0.14 | -0.37 | -0.07 | 0.09 | -0.14 | -0.38 | 0.04 | 0.11 | -0.42 | 0.17 | -0.03 | -0.08 | -0.15 | 0.14 | 0.02 | -0.22 | -0 | 0.22 | -0.49 | -0.13 | 0.09 | -0.16 | 0.04 | -0.07 | 0.03 | -0.31 | 0.04 | 0.02 | |
| Machinery orders at constant prices, manufacturing | 0.62 | -0.56 | 0.13 | -0.4 | 0.79 | -0.42 | 0.6 | -0.27 | -0.44 | 0.53 | -0.01 | 0.1 | -0.2 | -0.07 | -0.08 | 0.2 | 0 | 0.11 | -0.4 | 0.23 | 0.28 | -0.05 | -0.05 | -0.15 | 0.07 | 0.08 | -0.37 | 0.39 | 0.28 | -0.39 | 0.18 | -0.08 | -0.07 | -0.03 | 0.02 | -0.07 | ||
| Total floor area of new housing construction started | 0.14 | 0.19 | 0.3 | -0.47 | 0.13 | -0.05 | -0.04 | 0.28 | -0.49 | 0.45 | 0.13 | 0.02 | 0.5 | 0.62 | -0.69 | -0.82 | 0.61 | 0.35 | -0.06 | -0.08 | 0.04 | -0.05 | 0.09 | 0.08 | -0.08 | -0.3 | -0.1 | 0.59 | 0.02 | -0.13 | -0.03 | 0.14 | -0.01 | -0.11 | -0.23 | 0.27 | -0.34 | |
| Consumer confidence index | 0.44 | 0.05 | 0.45 | -0.38 | -0.46 | 0.66 | 0.19 | -0.12 | 0.4 | 0.15 | 0.15 | 0.26 | -0.23 | 0.4 | 0.5 | -0.75 | -0.22 | -0.14 | -0.26 | -0.14 | -0.05 | -0.31 | -0 | -0.12 | 0.07 | -0.09 | -0.47 | -0.24 | 0.23 | 0.21 | 0.31 | 0.23 | 0.04 | 0.14 | -0.28 | -0.25 | 0.26 | |
| Nikkei commodity price index, 42 items | 0.2 | -0.39 | 0.29 | 0.58 | 0.23 | 0.15 | 0.29 | -0.13 | -0.14 | 0.19 | -0.11 | -0.09 | -0.09 | 0.03 | -0.2 | -0.73 | -0.05 | -0.21 | -0.1 | 0.01 | -0.25 | -0.1 | -0.04 | -0.18 | -0.56 | -0.15 | 0.14 | 0.28 | 0.21 | -0.08 | 0.04 | -0.23 | -0.03 | -0.1 | -0.16 | 0.04 | 0.06 | |
| Money stock M2, change from previous year | 0.05 | -0.2 | 0.22 | 0.32 | 0.32 | 0.16 | -0.01 | 0.07 | 0.15 | 0.14 | 0.22 | 0.3 | 0.21 | 0.2 | 0.11 | -0.2 | -0.28 | -0.05 | 0.03 | 0.1 | 0.03 | 0.02 | -0.05 | -0.14 | 0.02 | -0.22 | -0.3 | -0.23 | 0.09 | -0.07 | 0.17 | 0.01 | -0.07 | 0.01 | -0.07 | 0.01 | -0.07 | |
| Stock prices, TOPIX | 0.02 | 0.08 | 0.17 | 0.07 | -0.3 | 0.28 | 0.27 | 0.06 | 0.11 | 0.1 | 0.09 | 0.32 | 0.1 | 0.04 | 0.4 | -0.53 | -0.06 | -0.04 | -0.05 | 0.04 | -0 | 0.08 | 0.03 | -0.6 | 0.13 | -0.02 | 0.02 | -0.1 | 0.23 | 0.22 | 0.32 | -0.06 | 0.19 | -0.31 | 0.22 | 0 | 0.02 | |
| Index of investment climate, manufacturing | -0.03 | -0.15 | -0.21 | 0.29 | 0.71 | 0.39 | -0.09 | 0.02 | 0.15 | -0.04 | -0.05 | -0.13 | -0.1 | -0.39 | 0.01 | -0.21 | -0.21 | -0.27 | -0 | -0.07 | -0.02 | -0 | 0.15 | -0.04 | 0.15 | -0.1 | -0.04 | -0.12 | -0.07 | -0.19 | 0.04 | 0.31 | -0.22 | 0.09 | 0.19 | 0.01 | ||
| Sales forecast DI of small businesses | -0.21 | 0.29 | -0.04 | -0.26 | -0.17 | 0.26 | -0.06 | 0.18 | 0.08 | -0.08 | -0 | 0.04 | -0.01 | -0.13 | -0.19 | -0.21 | -0.03 | -0.12 | 0.29 | 0.07 | -0.31 | 0.02 | 0.24 | -0.2 | -0.09 | -0.13 | 0.13 | 0.03 | 0.02 | -0.07 | 0.01 | -0.28 | 0.11 | -0.12 | 0.08 | -0.01 | -0.11 |
Latest reading
Trend factor of the coincident indicators stood at 0.16 contribution in Jul 2026. That is +0.04 contribution from Jun 2026 and −0.14 contribution from a year earlier. The series on this page is monthly and runs from Jan 1985 to Jul 2026. Source: Economic and Social Research Institute, Cabinet Office – Indexes of Business Conditions.
- Latest
- 0.16 contribution
- Jul 2026
- vs previous period
- +0.04 contribution
- Jun 2026
- vs a year earlier
- −0.14 contribution
About this data
How much each component series contributed to the month-on-month change of Japan's leading composite index, plus the trend factor of the coincident indicators. Contributions sum to the change in the index. Source: Indexes of Business Conditions, Economic and Social Research Institute, Cabinet Office.
