Giappone Coincident Index

Japan’s index of coincident economic indicators—which reflects trends in factory output, employment, and retail sales—rose to 116.0 in April 2025, surpassing the preliminary estimate of 115.5 and slightly above March’s reading of 115.8. The modest uptick came as the government sought to cushion the economy from the effects of newly imposed U.S. tariffs. At the same time, Tokyo tried to ease cost pressures, with Japanese authorities introducing measures such as subsidized fuel prices, partial coverage of electricity bills, and expanded low-interest loans targeting small and medium-sized businesses. On the monetary front, the Bank of Japan maintained its key short-term interest rate near 0.5%—its highest level since 2008—during its March meeting. The board signaled it may continue raising rates and recalibrating monetary support if its economic and inflation outlook holds.