[05/17/2010] Japan's core machinery orders rise 5.4% in March
Japan's core private-sector machinery orders, excluding volatile ones for ships and those for electric power companies, rose a seasonally adjusted 5.4 percent in March from a month earlier, according to the Cabinet Office on Monday.
Private-sector orders, including those from both manufacturing and non-manufacturing firms, but excluding volatile ones for ships and those from electric power companies, stood at 732.9 billion yen (7.92 billion U.S. dollars) in March, snapping a two month decline, the government report said.
The total value of machinery orders received by 280 manufacturers operating in Japan increased by 3.6 percent in March from the previous month on a seasonally adjusted basis, standing at 1,997.8 billion yen (21.61 billion U.S. dollars), it said.
In the April-June period, the Cabinet Office forecast the total amount of machinery orders to decrease by 4.7 percent and private- sector orders, excluding volatile ones, to increase by 1.6 percent from the previous quarter respectively.
In 2009 Fisical Year, the total amount of machinery orders fell by 18.8 percent and private-sector orders, excluding volatile ones, also decreased by 20.6 percent, said the report.
Core machinery orders including engines and turbines, heavy electrical machinery, electronic and communications equipment, industrial machinery and suchlike are considered a key indicator of capital spending in Japan.