Japan's core machinery orders fall 30,1 % yoy

Discussion in 'Economics' started by ASusilovic, Apr 8, 2009.

  1. Japanese private-sector core machinery orders chalked up a seasonally adjusted 1.4% rise in February from the previous month, the Cabinet Office reported Thursday, marking a much better-than-expected showing for the leading indicator.

    A Kyodo News survey had yielded an average market forecast of an 8.1% drop. Compared to February of last year, however, the orders were down 30.1%, according to Dow Jones Newswires.

    Core private-sector machinery orders exclude those for ships and from electric utilities, which are seen as more volatile. They are considered to be a leading indicator of corporate capital spending about six months ahead, according to Kyodo.