Japan's index of leading economic indicators, used to gauge the economic outlook, rose to 110.2 in December 2023 from a preliminary estimate of 110. This increase follows a final figure of 108.1 in the previous month, the lowest in seven months. The uptick in the index, the highest since October 2022, reflects a decline in the unemployment rate and improved consumer confidence. Japan's unemployment rate fell to 2.4% in December 2023, the lowest in 11 months, from 2.5% in the previous two months. Additionally, consumer mood in January 2024 strengthened to the highest level since December 2021.

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