FX.co ★ Japan Leading Index Revised Downward

Japan's leading economic index, which offers a forecast for the months ahead through indicators such as employment opportunities and consumer confidence, has been adjusted downward to 104.8 for May 2025 from an initial estimate of 105.3. Despite this revision, the latest figure is still higher than April's final reading of 104.2, the lowest point since August 2020. The revision was largely influenced by a significant decline in total employment figures, reaching an unprecedented low in May, although the unemployment rate held steady at 2.5%. In contrast, consumer confidence showed a slight improvement, increasing to 32.8 in May from a more than two-year low of 31.2 in April. Additionally, annual household spending experienced a notable rise in May, marking its most rapid growth since August 2022.