|
(CEP News) - Japanese machine orders contracted by 4.4% in October, lower than the 3.9% decrease forecasted and September's +5.5% reading.
According to the report from Economic and Social Research Institute in Tokyo, machine orders fell 15.5% on an annual basis, worse than the 15.0% decline expected and the 4.2% drop in September. These figures represent private sector machinery orders, excluding volatile ones for ships, and from electric power companies. The total value of machinery orders, including volatile ones, fell by 14.4% from the previous month, after September's total value declined 3.0%. The steepest decrease in the core machine orders was from foreign companies, with orders down by 37.2% month over month after growing 3.1% in September. Meanwhile, agency machine orders decreased by 9.8% month over month, the report said, after growing 13.6% in the month prior. The survey covers 280 manufacturers in the machinery sector. By Megan Ainscow,
This email address is being protected from spam bots, you need Javascript enabled to view it
CEP Newswires - CEP News © 2008. All Rights Reserved. www.economicnews.ca The Copying, Broadcast, Republication or Redistribution of CEP News Content is Expressly Prohibited Without the Prior Written Consent of CEP News. A copy of CEP News disclaimer can be found at http://www.economicnews.ca/cepnews/wire/disclaimer. |
