MNI DATA IMPACT: Japan March Machine Orders Rise 3.8% m/m

     TOKYO (MNI) - Japan's core machinery orders, excluding those for power

generation equipment and ships, increased for a second consecutive month in

March, data from the Cabinet Office released on Wednesday showed. 

     -- Core orders rose 3.8% in March, accelerating from last month's 1.8%,

marking the second rise in five months. The outcome also came in above the MNI

survey median of 13 economist forecasts that projected an unchanged rate. 

     -- The outlook for April-June period is for a 15.7% rise, rebounding

strongly from the outlook of a 3.2% drop seen in the previous quarter.

     -- Orders from the non-manufacturing sector, excluding power generation and

ships, surged 13.4% from the 0.8% drop reported in February, while orders from

the manufacturing sector fell 11.4% in March, sharply lower than the 3.5%

increase in February.

     -- The three-month moving average of core orders fell 0.01% in March,

following -1.4% and -1.9% recorded in February and January.

     -- The Cabinet Office kept its outlook assessment for industry, restating

that "machinery orders are marking time". 

--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

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