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Japanese economy has pulse
By Mari Yamaguchi |
February 10, 2009, Tuesday
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Print Edition
Print Edition
JAPANESE machinery orders, a barometer of corporate spending, fell by just 1.7 percent in December from November - far less than predicted - but economists warned that the outlook remains gloomy.
Core private sector machinery orders, which exclude the unpredictable orders from electric power firms and ship builders, fell for a third straight month to 741.6 billion yen (US$8.06 billion), Japan's Cabinet Office said.
That was better than the 8.7 percent decline projected in a Kyodo News survey of economists and far smaller than the 16.2 percent plunge in November - the steepest monthly drop on record.
The report offered some hopeful signs. Machinery orders from manufacturers rose 7 percent, including improvement in steel makers.
Core private sector machinery orders, which exclude the unpredictable orders from electric power firms and ship builders, fell for a third straight month to 741.6 billion yen (US$8.06 billion), Japan's Cabinet Office said.
That was better than the 8.7 percent decline projected in a Kyodo News survey of economists and far smaller than the 16.2 percent plunge in November - the steepest monthly drop on record.
The report offered some hopeful signs. Machinery orders from manufacturers rose 7 percent, including improvement in steel makers.
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