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ECONOMY > Economic Indicators

Japan revises economic indexes after labor survey irregularities

  • January 24, 2019
  • , Jiji Press , 10:29 p.m.
  • English Press

Tokyo, Jan. 24 (Jiji Press) — Japan’s Cabinet Office said Thursday that it has revised past readings of the composite indexes of economic indicators, following irregularities found in the labor ministry’s monthly labor survey, which is used as a base for CI calculations.

The government agency recalculated readings of the coincident CI mainly for January 2012 and later. The CI depicts the economy’s current conditions.

The modifications ranged from a downward revision of 0.3 point to an upward revision of 0.2 point. The sizes of month-on-month changes in the CI were also modified.

Overtime hours, an item in the labor survey, are among the underlying indicators for the coincident CI, based on which the economy’s cyclical peaks and troughs are determined.

“The CI revision was not big enough as to affect the assessments of economic trends,” a Cabinet Office official said.

Last month, the Cabinet Office announced that the current economic expansion, which started in December 2012, topped the 57-month Izanagi boom from November 1965 to July 1970.

The latest CI revision does not affect this assessment, according to the government agency.

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