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MNI DATA IMPACT: Japan July Machine Orders Down Sharply

MNI (London)
--Japan July Machine Orders Fall 6.6% On Month
     TOKYO (MNI) - Japan's core machinery orders, excluding those for power
generation equipment and ships, fell sharply in July due to the production fall
in the non-manufacturing sector, data from the Cabinet Office released Thursday
showed. 
     -- Core orders plunged 6.6% m/m in July, down sharply from last month's
13.9% gain, although outperforming the MNI survey median of 13 economist
forecasts suggesting a 9.9% decrease. 
     -- The plunge was driven by the fall in the non-manufacturing sectors,
dropped 15.6% m/m compared with the previous 30.5% m/m growth.
     --The three-month moving average of core orders fell for the first time in
four months, down 0.6% in July, following the gains of 3.5% and 0.2% recorded in
June and May, respectively.
     -- The outlook for July-September period is for a 6.1% fall, down from the
outlook of a 7.5% rise seen in the previous quarter.
--MNI Beijing Bureau; tel: +86 (10) 8532-5998; email: flora.guo@marketnews.com
--MNI London Bureau; tel: +44 203-586-2225; email: les.commons@marketnews.com
[TOPICS: MAJDS$,MAUDR$,MAUDS$,M$A$$$,M$J$$$,M$U$$$]
MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com

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