Japan's coincident economic index, a key gauge of current economic activity based on indicators such as industrial production, employment, and retail sales, rose to 118.5 in May 2026 from a final 118.1 in the prior month, preliminary data showed. It was the highest level since May 2019, amid continued resilience in domestic conditions. Private consumption showed signs of strengthening, supported by improving employment and income conditions, while exports and imports were broadly unchanged, reflecting cautious business sentiment amid ongoing geopolitical uncertainties. Fiscal support also remained robust following the approval of a record-high budget for fiscal 2026, marking a second straight year of record spending despite risks stemming from tensions in the Middle East. On the monetary policy front, the Bank of Japan kept its short-term policy rate unchanged at 0.75% in April while raising its inflation outlook, citing higher energy costs and persistent underlying price pressures. source: Cabinet Office, Japan

Coincident Index in Japan increased to 118.50 points in May from 118.10 points in April of 2026. Coincident Index in Japan averaged 107.98 points from 1985 until 2026, reaching an all time high of 124.40 points in December of 2017 and a record low of 83.40 points in March of 2009. This page provides the latest reported value for - Japan Coincident Index - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Japan Coincident Index - data, historical chart, forecasts and calendar of releases - was last updated on July of 2026.



Calendar GMT Reference Actual Previous Consensus TEForecast
2026-06-25 05:00 AM
Coincident Index Final
Apr 118.1 116.8 117.9
2026-07-07 05:00 AM
Coincident Index Prel
May 118.5 118.1 118.4
2026-07-27 05:00 AM
Coincident Index Final
May 118.1 118.5


Related Last Previous Unit Reference
BSI Large Manufacturing -1.80 3.80 percent Jun 2026
Changes in Inventories -1847.00 -1482.20 JPY Billion Mar 2026
Coincident Index 118.50 118.10 points May 2026
Eco Watchers Survey Current 44.00 43.60 points Jun 2026
Eco Watchers Survey Outlook 45.70 40.70 points Jun 2026
Leading Economic Index 116.80 116.10 Points May 2026
Machinery Orders MoM -12.40 8.70 percent May 2026
New Orders 1248.68 1177.64 JPY Billion Apr 2026


Japan Coincident Index
Coincident Index correlates with the business cycle, and is used to identify the current state of the economy. In general, increasing coincident index shows that the economy is in an expansion phase, and decreasing coincident index reflects that the economy is in a contraction phase. The index is calculated using month-over-month percentage changes in 11 leading indicators, 11 coincident indicators, and 6 lagging indicators.
Actual Previous Highest Lowest Dates Unit Frequency
118.50 118.10 124.40 83.40 1985 - 2026 points Monthly
2020=100

News Stream
Japan Coincident Index Hits 6-Year High
Japan's coincident economic index, a key gauge of current economic activity based on indicators such as industrial production, employment, and retail sales, rose to 118.5 in May 2026 from a final 118.1 in the prior month, preliminary data showed. It was the highest level since May 2019, boosted by continued resilience in domestic conditions. Private consumption showed signs of strengthening, due to improving employment and income conditions, while exports and imports were broadly unchanged, reflecting cautious business sentiment amid ongoing geopolitical uncertainties. Fiscal support also remained robust following the approval of a record-high budget for fiscal 2026, marking a second straight year of record spending despite risks stemming from tensions in the Middle East. On the monetary policy front, the Bank of Japan kept its short-term policy rate unchanged at 0.75% in April while raising its inflation outlook, citing higher energy costs and persistent underlying price pressures.
2026-07-07
Japan Coincident Index Beats Flash Estimate
Japan’s coincident economic index, a key measure of current activity based on indicators such as industrial production, employment, and retail sales, rose to 118.1 in April 2026, above the preliminary figure of 117.9 and March’s 116.8. The reading marked the highest level since May 2019, pointing to resilient economic output despite lingering uncertainty stemming from the Middle East conflict. Domestic demand remained solid, supported by improving employment and income conditions, though consumer confidence softened. Meanwhile, both exports and imports were broadly unchanged, reflecting cautious business sentiment amid geopolitical risks and persistent trade-related uncertainties. On the monetary policy front, the Bank of Japan kept its short-term policy rate unchanged at 0.75% in April while raising its inflation outlook, citing higher energy costs and continued price pressures.
2026-06-25
Japan Coincident Index Rises to 3-Month High
Japan’s coincident economic index, a gauge of current economic activity based on indicators such as industrial production, employment, and retail sales, rose to 117.9 in April 2026 from an upwardly revised 116.8 in the previous month, preliminary data showed. It was the highest reading since January, signaling that the economy continued to recover at a moderate pace despite heightened uncertainty from the conflict in the Middle East. Domestic demand remained resilient, supported by improving employment and income conditions, although consumer sentiment showed signs of softening. Both exports and imports were broadly flat, reflecting caution among businesses amid geopolitical tensions and ongoing trade-related challenges. On the policy front, the Bank of Japan maintained its short-term interest rate at 0.75% in April, while lifting its inflation forecasts due to higher energy costs.
2026-06-05