Japan’s leading economic index, which gauges the outlook for economic activity in the months ahead using indicators such as job offers and consumer sentiment, increased to 116.8 in May 2026 from 116.1 in April, but came in slightly below market estimates of 116.9. It was the highest level since July 2021, supported by the government's record fiscal budget, which included comprehensive measures to ease cost-of-living pressures and emergency energy support to cushion the impact of the Middle East conflict. Meanwhile, unemployment stood at 2.5% in May, remaining at its lowest level since July 2025, while employment hit a record high, pointing to resilient labor market conditions. Consumer confidence also improved to a three-month high, amid optimism about employment prospects and a growing willingness to buy. source: Cabinet Office, Japan

Leading Economic Index Japan increased to 116.80 in May of 2026 over the same month in the previous year. Leading Economic Index in Japan averaged 102.70 Points from 1985 until 2026, reaching an all time high of 119.80 Points in November of 2013 and a record low of 80.30 Points in July of 1986. This page provides - Japan Leading Composite Index - actual values, historical data, forecast, chart, statistics, economic calendar and news. Japan Leading Economic Index - data, historical chart, forecasts and calendar of releases - was last updated on July of 2026.

Leading Economic Index Japan increased to 116.80 in May of 2026 over the same month in the previous year. Leading Economic Index in Japan is expected to be 112.00 Points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Japan Leading Economic Index is projected to trend around 110.00 Points in 2027 and 115.00 Points in 2028, according to our econometric models.



Calendar GMT Reference Actual Previous Consensus TEForecast
2026-06-25 05:00 AM
Leading Economic Index Final
Apr 116.1 115.4 115.9 115.9
2026-07-07 05:00 AM
Leading Economic Index Prel
May 116.8 116.1 116.9 116.3
2026-07-27 05:00 AM
Leading Economic Index Final
May 116.1


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 8.70 -9.40 percent Apr 2026
New Orders 1248.68 1177.64 JPY Billion Apr 2026


Japan Leading Economic Index
In Japan, the Leading Composite Index consists of 12 indexes such as account inventory ratios, machinery orders, stock prices and other leading economic indicators. The index anticipates changes in the direction of the Japanese economy in the coming months. In general, increase in the index reflects that the economy is in an expansion phase, and decreasing coincident index reflects that the economy is in a contraction phase. The index is used to make official judgement on when the business cycle begins and ends.
Actual Previous Highest Lowest Dates Unit Frequency
116.80 116.10 119.80 80.30 1985 - 2026 Points Monthly
2020=100, NSA

News Stream
Japan Leading Index Rises to Near 5-Year High
Japan’s leading economic index, which gauges the outlook for economic activity in the months ahead using indicators such as job offers and consumer sentiment, increased to 116.8 in May 2026 from 116.1 in April, but came in slightly below market estimates of 116.9. It was the highest level since July 2021, supported by the government's record fiscal budget, which included comprehensive measures to ease cost-of-living pressures and emergency energy support to cushion the impact of the Middle East conflict. Meanwhile, unemployment stood at 2.5% in May, remaining at its lowest level since July 2025, while employment hit a record high, pointing to resilient labor market conditions. Consumer confidence also improved to a three-month high, amid optimism about employment prospects and a growing willingness to buy.
2026-07-07
Japan Leading Index Revised Higher
Japan’s leading economic index, which gauges the outlook for economic activity in the months ahead using indicators such as job offers and consumer sentiment, rose to 116.1 in April 2026, above the preliminary reading of 115.9 and March’s 115.4. It was the highest level since July 2021, supported by the government's record fiscal budget, which included comprehensive measures to ease cost-of-living pressures and emergency energy support to cushion the impact of the Middle East conflict. Meanwhile, the unemployment rate edged down to 2.5% in April, the lowest since July 2025, while job availability remained stable, pointing to resilient labor market conditions. However, consumer confidence fell to a one-year low, highlighting lingering concerns over rising living costs and heightened global uncertainty.
2026-06-25
Japan Leading Index Highest Since 2021
Japan’s leading economic index, which gauges the outlook for the months ahead using indicators such as job offers and consumer sentiment, rose to 115.9 in April 2026 from an upwardly revised 115.4 in the previous month, exceeding market forecasts of 114.3, preliminary estimates showed. It was the highest reading since December 2021, underscoring a gradual improvement in the economic outlook. Tokyo’s large-scale stimulus program, designed to bolster household spending and stabilize growth, helped lift the index compared to March despite intensifying cost pressures caused by rising fuel prices linked to the Middle East conflict. As a result, retail sales grew at the fastest pace since April 2025. Meanwhile, the labor market improved, with the unemployment rate declining to 2.5%, the lowest since July 2025, and employment surging to a record high of 68.76 million.
2026-06-05