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Economy in Brief

Japan's LEI Recovers
by Robert Brusca  July 20, 2011

Japan’s LEI advanced in May as Japan continued the process of recovery in the post disaster period. The LEI data still do not have much distance from the development of the disasters and their lingering impacts. The LEI’s strong move is evident only in the month jump as it only gets back to the March level. In the past month however the biggest jump is being seen in MFG Overtime hours and in the Net trade position. The remaining LEI components are only edging higher or in some cases still erratic.

Japan is on the path to recovery. But political in-fighting is reported to be hindering efforts to rebuild. The pace of rebounding is said be slower than its response to the Kobe earthquake.

Still there is progress and the restoration of the Japan supply chain which slowly is being re-implemented. Japan’s auto companies are gradually restoring their output to pre-disaster levels.

Japan's LEI And Its Trends
  Levels Growth (SAAR)
  May-11 Apr-11 Mar-11 3Mo 6Mo 12Mo 24Mo
LEI Japan 99.6 96.2 99.6 -13.6% 0.4% 0.1% 30.4%
Other Leading Measures
Share Prices 100.3 100.3 100.4 -0.3% 0.9% 0.7% 2.5%
Int Spread (chngs) 100.4 100.3 100.3 0.1 0.3 0.3 0.4
Loan/Deposit 99.4 99.3 99.3 0.0 -0.1 -0.5 -1.9
Dwellings Started 100.9 100.9 100.9 0.0 0.3 1.5 2.9
OT-MFG 100.3 99.9 95.5 1.1 1.3 1.6 -3.4
Stocks/Deliv (M&M) 100.0 100.5 100.8 -1.0 -0.9 -0.8 4.2
Exp>Imp 101.3 101.9 100.5 4.6% 3.3% 2.3% -0.8%
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