July 09, 2009

Machine Orders Fell Unexpectedly by 3.0% in May

Japan machinery orders, a leading indicator of capital spending, were down by 3% in May from a month earlier. It was against a median market forecast for a 2.1% increase. Orders from non-manufacturers are still weak, reflecting concerns over domestic demand. Orders for manufacturers are mixed. Some are picking up from overseas demand, others are not because of falling prices. The world's second largest economy is standing on its threshold right now.

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