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Japan machine orders show capex will be slow
Reuters.com reports Japan 's
core machinery orders fell less than expected in January from the previous
month, easing concern that a recovery in corporate spending could slow down and
harm the economy. Wholesale price deflation eased further in February on a
recent rise in commodity prices, but deflationary pressure is likely to
continue due to the big gap between supply and demand. The machinery orders
data offer evidence that capital expenditure will continue to grow slowly this
year as manufacturers increase spending, supporting economic growth. But the
data also show non-manufacturers have been slow to increase their spending due
to weak domestic demand... Core private-sector machinery orders, a highly
volatile series regarded as an indicator of capital spending, fell 3.7% in
January, less than a median market forecast for a 4.1% decline.
core machinery orders fell less than expected in January from the previous
month, easing concern that a recovery in corporate spending could slow down and
harm the economy. Wholesale price deflation eased further in February on a
recent rise in commodity prices, but deflationary pressure is likely to
continue due to the big gap between supply and demand. The machinery orders
data offer evidence that capital expenditure will continue to grow slowly this
year as manufacturers increase spending, supporting economic growth. But the
data also show non-manufacturers have been slow to increase their spending due
to weak domestic demand... Core private-sector machinery orders, a highly
volatile series regarded as an indicator of capital spending, fell 3.7% in
January, less than a median market forecast for a 4.1% decline.
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