Japanese June Leading Index Rises More Than Expected

(RTTNews) - Japan's leading index rose more than expected in June, preliminary estimates from the Cabinet Office showed Friday. After falling for two consecutive months, the leading index climbed to 98.9 in June from 98.6 in May. The expected reading was 98.7.

At the same time, the coincident index rose slightly to 101.3 from 101.2 in May. Economists had expected the reading to remain at 101.2. Further, data showed that the lagging index remained unchanged at 83.4 in June.
Yesterday, Prime Minister Naoto Kan said the Japanese economy may need more stimulus spending from the government to safeguard the recovery. Kan said that although growth was picking up, global economic conditions were less than favorable and that unemployment was too high.