The index of leading economic indicators in Japan, which is used to gauge the economic outlook for a few months ahead on data such as job offers and consumer sentiment, was revised slightly lower to 107.6 in November 2023, compared to the preliminary estimates of 107.7, and after a final 108.9 in the prior month. Still, it marked the lowest reading since October 2020, as recovery in the Japanese economy remained fragile. The economy shrank 0.7% qoq in Q3 of 2023, the first contraction in a year, amid accelerated cost pressures and uncertainties in global conditions, with factory activity continuing to contract in November.
