Japan’s leading economic index - which reflects the outlook for the coming months based on indicators such as job offers and consumer sentiment - was revised down to 104.8 in May 2025 from a preliminary estimate of 105.3. However, the latest reading remained above the final figure of 104.2 in April, which marked the lowest level since August 2020. The downward revision was mainly weighed down by total employment data, which fell to a record low in May, even though the unemployment rate remained steady at 2.5%. Meanwhile, consumer sentiment improved slightly, rising to 32.8 in May from April’s more than two-year low of 31.2. On the other hand, annual household spending surged in May, marking the fastest growth since August 2022.