Japan’s Leading Index rises below expectations in April

Japan’s Leading Index for the month of April rose, albeit at a rate less than expected amid a scenario of global turmoil and uncertainty as the United Kingdom headed into the European Union referendum polls Thursday.

The Leading Index, a measure of the future economic activity in Japan, rose to a seasonally adjusted 100.0 in April from 99.1 in the previous month. The April figure was revised down from 100.5, data released by the Cabinet Office of Japan said Thursday.

Further, the coincident index that reflects the current economic activity also climbed to 112.0 in April from 110.2 in March. The preliminary reading for the latest month was 112.2. Meanwhile, the lagging index that indicates the past economic activity came in at 115.3 in April, up from 114.4 a month ago.

However, market participants had expected Japan’s index of leading economic indicators to rise 100.5 last month.