Japan Nov core machinery orders up 3.8 pct from Oct; beats forecast |
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Published
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Mon, 15 Jan 2007 01:15
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TOKYO (XFN-ASIA) - Core private sector machinery orders in November rose a seasonally adjusted 3.8 pct from October, after having risen by 2.8 pct in the previous month, the Cabinet Office said.The November figure was slightly above the consensus forecast of a 3.4 pct rise based on a Nihon Keizai Shimbun poll of economists.Core private sector machinery orders, which exclude orders from electric utilities and for ships, are viewed as a leading indicator of corporate capital spending.Year-on-year, core machinery orders were up 0.7 pct in November, after dropping 1.2 pct in October.Machinery orders placed by the manufacturing sector rose 9.7 pct month-on-month in November and were up 3.7 pct from a year before.Orders placed by non-manufacturers were up 5.7 pct month-on-month but fell 1.8 pct from a year earlier.Public sector orders were up 9.8 pct in November and fell 13.6 pct from a year before.Foreign orders jumped 19.7 pct from October and were up 42.8 pct year-on-year.Total orders rose 14.2 pct month-on-month and were up 14.9 pct from a year earlier.For the October-December quarter, core machinery orders are expected to rise 5.7 pct compared to the previous three months, the Cabinet Office said.(1 usd = 120.28 yen)kaori.kaneko@xfn.com
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