Japanese Economic Indicator Revised Upward

TOKYO (Kyodo) -- The key gauge of the current state of the Japanese economy for July was revised up slightly as manufacturers' capacity operating ratio rose on the back of a recent recovery in production, the government said Friday.

The composite index, or CI, of coincident economic indicators stood at 89.8 against 100 for the base year of 2005, compared with a preliminary reading of 89.6 released on Sept. 9, the Cabinet Office said.

The revised July reading represents a 1.2 point increase from the previous month and the fourth consecutive month of growth.

The government retained its economic assessment from the preliminary report, saying the nation's economy "stopped worsening."

The CI consists of various indicators such as industrial production, retail sales and the ratio of job offers to job seekers.

The index of leading indicators, which predicts developments over the next several months, was revised down to 82.5 from a preliminary 83.0.

The index of lagging indicators, which measures economic performance in the recent past, was raised from a preliminary 82.4 to 82.8.