Japan Composite Index of Business Conditions
The Indexes of Business Conditions, compiled by the Cabinet Office, combine several economic indicators into composite indexes (CI). The leading index tends to move ahead of the business cycle, the coincident index moves with it, and the lagging index follows it.
📖 How to read this indicator
The coincident index is the main gauge of current business conditions: the Cabinet Office uses its recent movements to make a mechanical assessment of the economy every month. The leading index includes indicators such as new job offers and the consumer confidence index, and a sustained decline often signals a downturn in the months ahead.
calendar_monthAs of Aug 2026
· Unit: index (2020 = 100)
Leading index
118.0
2020 = 100
Coincident index
118.8
2020 = 100
Lagging index
112.4
2020 = 100
–
Data table
| Month | Leading index | Coincident index | Lagging index |
|---|---|---|---|
| Aug 2026 | 118.0 | 118.8 | 112.4 |
| Jul 2026 | 117.6 | 120.6 | 112.9 |
| Jun 2026 | 116.2 | 118.9 | 111.8 |
| May 2026 | 116.2 | 118.3 | 111.2 |
| Apr 2026 | 115.9 | 118.3 | 111.6 |
| Mar 2026 | 115.5 | 117.0 | 111.6 |
| Feb 2026 | 114.3 | 116.6 | 111.9 |
| Jan 2026 | 112.5 | 118.0 | 112.1 |
| Dec 2025 | 110.5 | 114.6 | 111.8 |
| Nov 2025 | 109.5 | 115.0 | 113.1 |
| Oct 2025 | 109.2 | 115.8 | 112.7 |
| Sep 2025 | 108.0 | 115.2 | 112.9 |
| Aug 2025 | 106.9 | 114.0 | 112.7 |
| Jul 2025 | 106.1 | 114.9 | 113.7 |
| Jun 2025 | 105.2 | 115.6 | 113.6 |
| May 2025 | 104.3 | 115.8 | 114.1 |
| Apr 2025 | 104.3 | 115.8 | 113.2 |
| Mar 2025 | 107.1 | 116.0 | 112.0 |
| Feb 2025 | 107.1 | 116.7 | 111.8 |
| Jan 2025 | 107.7 | 116.3 | 111.8 |
| Dec 2024 | 107.5 | 116.4 | 110.4 |
| Nov 2024 | 107.7 | 115.3 | 109.7 |
| Oct 2024 | 108.5 | 115.9 | 109.4 |
| Sep 2024 | 108.4 | 114.3 | 108.8 |
| Aug 2024 | 107.4 | 114.1 | 109.5 |
| Jul 2024 | 109.1 | 115.5 | 108.9 |
| Jun 2024 | 109.7 | 114.7 | 108.5 |
| May 2024 | 110.8 | 115.5 | 108.9 |
| Apr 2024 | 110.4 | 114.6 | 107.5 |
| Mar 2024 | 111.2 | 113.8 | 108.0 |
| Feb 2024 | 111.3 | 112.9 | 107.8 |
| Jan 2024 | 109.9 | 113.1 | 106.7 |
| Dec 2023 | 110.3 | 116.0 | 108.3 |
| Nov 2023 | 109.6 | 114.9 | 107.5 |
| Oct 2023 | 109.5 | 115.8 | 107.5 |
| Sep 2023 | 110.5 | 115.8 | 107.0 |
| Aug 2023 | 110.5 | 115.4 | 106.6 |
| Jul 2023 | 109.8 | 115.2 | 106.3 |
| Jun 2023 | 110.1 | 115.4 | 106.7 |
| May 2023 | 110.0 | 115.3 | 106.4 |
| Apr 2023 | 108.7 | 114.9 | 106.3 |
| Mar 2023 | 108.9 | 114.8 | 105.9 |
| Feb 2023 | 109.1 | 114.7 | 105.8 |
| Jan 2023 | 108.7 | 113.1 | 105.9 |
| Dec 2022 | 109.6 | 113.4 | 104.5 |
| Nov 2022 | 110.8 | 113.9 | 104.7 |
| Oct 2022 | 111.4 | 114.2 | 104.2 |
| Sep 2022 | 111.6 | 114.6 | 104.1 |
| Aug 2022 | 113.8 | 115.2 | 103.7 |
| Jul 2022 | 112.4 | 114.0 | 102.5 |