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Japan's machinery orders increase
By Tomoko A. Hosaka |
February 11, 2010, Thursday
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Print Edition
Print Edition
JAPANESE machinery orders, a closely watched indicator of future business investment, rose in December for the first time in three months, the government said yesterday.
Core machinery orders surpassed expectations, jumping 20.1 percent from the previous month to 751.2 billion yen (US$8.4 billion), according to the Cabinet Office report. The figure excludes often volatile numbers from shipbuilders and electric power firms.
Kyodo News agency had forecast an 8.2 percent rise to follow November's 11.3 percent drop to a record low.
Exports in December rose for the first time since the collapse of Lehman Brothers in late 2008, powering industrial production up 2.2 percent from the previous month.
The results show how robust overseas demand is boosting Japan's economic recovery.
Core machinery orders surpassed expectations, jumping 20.1 percent from the previous month to 751.2 billion yen (US$8.4 billion), according to the Cabinet Office report. The figure excludes often volatile numbers from shipbuilders and electric power firms.
Kyodo News agency had forecast an 8.2 percent rise to follow November's 11.3 percent drop to a record low.
Exports in December rose for the first time since the collapse of Lehman Brothers in late 2008, powering industrial production up 2.2 percent from the previous month.
The results show how robust overseas demand is boosting Japan's economic recovery.
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