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MNI (London)
     TOKYO (MNI) - Japan's core machinery orders, excluding those for power
generation equipment and ships, jumped in June as production expanded, data from
the Cabinet Office released on Wednesday showed. 
     -- Core orders increased 13.9% m/m in June, up sharply from last month's
7.8% drop. The outcome was higher than the MNI survey median of 13 economist
forecasts suggesting a 1.0% decrease. 
     -- The surge was driven by improvements in both the manufacturing (-1.7%
m/m VS -7.4% m/m) and non-manufacturing (30.5% m/m VS -9.0% m/m) sectors.
     --The three-month moving average of core orders rose for a third straight
month, up 3.5% in June, following 0.2% and 3.6% recorded in May and April,
     -- 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.
     -- The Cabinet Office kept its outlook assessment on the machinery orders,
saying it "shows sign of picking up".
--MNI London Bureau; tel: +44 203-586-2225; email:
MNI London Bureau | +44 203-865-3812 |
MNI London Bureau | +44 203-865-3812 |