Wednesday, 10th March 2010
In Business In Japan,
Machinery orders fall in Japan
Machinery orders in Japan fell in January, new figures have shown.
According to the Japanese government, core machinery orders in Japan dropped by 3.7 per cent in January this year, which matches the predictions made by economists polled by Dow Jones Newswires.
However, as well as a fall in orders, Japan saw deflation ease in February following an increase in commodity prices and also enjoyed a rise in demand for products such as electronics and cars.
Chief Japan economist at Macquarie Securities Richard Jerram said: "After such a crazy spike in December I was expecting more of a pullback. We've been seeing persistently good growth numbers out of the Asia economies and it looks like that's been providing the dynamic for recovery."
The Japanese economy is still recovering from its deepest recession since the end of the second world war. Business in the country has also recently been hit by a series of high-profile scandals involving faulty cars from Toyota and Nissan.
Written by Mark Smith.