Japan - CLI Component Series & Turning Points

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Component Series (Unit)	Source
Inventories to shipments ratio (mining and manufacturing) (2000=100), Inverted	Statistics Japan
Ratio imports to exports (2000=100),	Statistics Japan
Ratio loans to deposits (%), Inverted	Bank of Japan
Monthly overtime hours (manufacturing) (2000=100)	Statistics Japan
Construction: dwellings started (2000=100)	Ministry of Construction
Share price index (TOPIX) Tokyo (2000=100)	Bank of Japan
Spread of interest rates (% annual rate)	Bank of Japan
Small business survey: Sales tendency (% balance)	Japan Finance Corporation for SMSE

Reference chronology of turning points (P = Peak, T = Trough, Date = mmyy): P0557 T0658 P0162 T1262 P0264 T0266 P0670 T1271 P0174 T0375 P0177 T1077 P0280 T0581 P1081 T1082 P1084 T0587 P1090 T0194 P0495 T0995 P0597 T0898 P1200 T1101 P0104 T0705

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