Monday, 17th May 2010
In Business In Japan,
Japanese machinery orders rise
Machinery orders in Japan rose in March, according to new data released today (May 17th).
According to figures from the Japanese Cabinet Office, private sector machinery orders rose by 5.4 per cent in March when compared to figures from the previous month.
The figures are seen to be a solid indicator of the sentiment of Japanese firms and their willingness to spend cash.
Market analysts predicted that the orders would rise by 5.3 per cent.
Now, manufacturers are expecting orders in quarter two to also increase.
The Cabinet Office said that based on the figures, core orders in the three months to June are set to go up 1.6 per cent compared to the three months ending March.
Back in February, core machinery orders in Japan fell by some 3.8 per cent.
Japan is currently struggling with inflation levels and the impact of the economic downturn.
Commenting on the figures, Junko Nishioka, chief Japan economist at RBS Securities, said: "On the whole, today's data suggests that capital spending will continue to grow moderately as corporate profits are in v-shaped recovery," reported Reuters.
Written by Mark Smith.