Japan's leading economic index was revised down to 104.8 in May 2025 from an initial estimate of 105.3, though it stayed above April's 104.2, the lowest level since August 2020. The downward revision was largely due to record-low employment data, even as the unemployment rate remained unchanged at 2.5%. On a positive note, consumer sentiment improved slightly to 32.8 from April's two-year low of 31.2, while annual household spending posted its fastest growth since August 2022, signaling some resilience in domestic demand.

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