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The Consumption Activity Index: Improvements of Release Contents and Revisions of Compilation Methodology

Author

Listed:
  • Koji Nakamura

    (Bank of Japan)

  • Ko Miura

    (Bank of Japan)

  • Toshitaka Maruyama

    (Bank of Japan)

Abstract

In this paper, we explain improvements of the release contents and revisions of the compilation methodology of the Consumption Activity Index (CAI). Regarding improvements of the release contents, first, we will provide the CAI (adjusting travel balance) one month earlier than the current release schedule by using the immigration statistics. Second, the levels and contributions of the real CAI components (durable goods, non-durable goods, and services) will be released on a monthly basis. Regarding the revisions of the compilation methodology, first, we will change the weight of life insurance expenditure. Second, we will use a new data source for electricity consumption as existing data source is no longer available. These revisions have enabled us to improve the overall performance of the CAI by further increasing its correlation with consumption trends in the Annual Report on National Accounts (ARNA), while maintaining its small short-term fluctuations and high correlations with various confidence indicators.

Suggested Citation

  • Koji Nakamura & Ko Miura & Toshitaka Maruyama, 2016. "The Consumption Activity Index: Improvements of Release Contents and Revisions of Compilation Methodology," Bank of Japan Research Papers 16-10-07, Bank of Japan.
    • Handle: RePEc:boj:bojron:ron161007a
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    File URL: http://www.boj.or.jp/en/research/brp/ron_2016/data/ron161007a.pdf
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    Cited by:

    1. Masato Takahashi & Takuji Kondo & Ko Munakata & Tomohiro Okubo & Yuto Iwasaki, 2021. "Revision of the Consumption Activity Index to Capture Recent Changes in Consumption Patterns," Bank of Japan Research Papers 21-07-07, Bank of Japan.

    More about this item

    Keywords

    private consumption; business cycles;

    JEL classification:

    • E21 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Consumption; Saving; Wealth
    • E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles

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