The preliminary July business conditions index showed the coincident index rising 1.7 points month on month to 120.6, marking a second consecutive monthly increase. The leading and lagging indexes also rose, signaling signs of an economic recovery.
According to the preliminary July business conditions index, the coincident index rose 1.7 points month on month to 120.6, marking a second consecutive monthly increase. The assessment that the underlying trend indicates improvement was maintained, while the leading index rose 1.7 points month on month to 117.9 and the lagging index rose 1.6 points to 113.3. The three-month and seven-month trailing moving averages also increased, indicating that the economy’s recovery trend remains intact.
The coincident index was lifted by positive year-on-year contributions from shipments of investment goods excluding transport equipment and retail sales. By individual series, shipments of investment goods excluding transport equipment contributed 0.68, retail sales 0.47, the export volume index 0.22, and shipments of production goods for the mining and manufacturing industries 0.25. By contrast, shipments of durable consumer goods made a negative contribution, as did wholesale sales.
The calculation used figures published by 2 September and reflected revisions associated with retroactive revisions to the Domestic Capital Goods Price Index, as well as the publication of the Financial Statements Statistics of Corporations by Industry and changes to seasonal adjustments. The CI coincident index ranged from 118.3 to 118.9 between April and June 2026 before reaching 120.6 in July.
For details, refer to the Cabinet Office’s official website. This preliminary report was prepared by the Report/DX Magazine editorial department.