A key gauge of the current state of the economy rose above the boom-or-bust line of 50 percent in March, the government said Wednesday.

The index of coincident economic indicators stood at 66.7 percent, the Cabinet Office said in a preliminary report.

A reading above 50 percent is considered a sign of economic expansion. A figure below that line is seen as a sign of contraction.

The index of leading indicators, predicting economic developments about six months down the road, came to 30.0 percent, and that of lagging indicators, designed to measure economic performance in the recent past, was at 37.5 percent.