Japan March core machinery orders jump 19.1 %
May 19, 2014
Japan's core machinery orders jumped 19.1 percent in March from the previous month, government data showed on Monday, in a sign companies are more bullish about increasing business investment.
The increase compared with the median estimate for a 6.0 percent rise in a Thomson Reuters poll of economists.
Companies surveyed by the Cabinet Office forecast that core orders will rise 0.4 percent in April-June. In January-March, orders rose 4.2 percent, the data showed.
Compared with a year earlier, core orders, a highly volatile data series regarded as an indicator of capital spending in the coming six to nine months, increased 16.1 percent. That was much more than the median estimate for a 4.2 percent annual increase.
The full table-
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The total value of machinery orders received by 280 manufacturers operating in Japan increased by 4.0% in March from the previous month on a seasonally adjusted basis. In January-March period it rose by 4.3% compared with the previous quarter.
Private-sector machinery orders, excluding volatile ones for ships and those from electric power companies, increased a seasonally adjusted by 19.1% in March, and showed increase by 4.2% in January-March period.
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In the April-June period the total amount of machinery orders was forecasted to increase by 21.3% and private-sector orders, excluding volatile ones, were forecasted to rise by 0.4% from the previous quarter respectively. This forecast was basically made by summing up the figures from 280 machinery manufacturers.
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In 2013 Fiscal Year the total amount of machinery orders increased by 13.0%. Also private-sector orders, excluding volatile ones, rose by 11.5%.
Source: Thomson Reuters and Economic and Social Research Institute, Cabinet Office, Government of Japan