Market updates on July 16
Welcome to Tuesday!
Japan's March core machinery orders are dismal, underscoring fragile recovery
In March, Japan's core machinery orders went down short of expectations from last month. Moreover, financial analysts foresee a dip in investment over April-June. It definitely underscors the fragile nature of Japan’s export-driven economic revival.
However, market experts tell that the data, considered as highly volatile, actually offers no signals that there might be any key changes in a moderate, though broad-based uptrend in capital expenditure in the Japanese recovering economy.
Core orders, considered to be a leading indicator of capital spending in the coming 6-9months, tacked on 1.4% in March from last month, as Cabinet Office data revealed on Wednesday. The result marked a second straight surging month, though undershot the median market forecast for a 2.1% revenue.
Companies polled by the Cabinet Office foresee that core orders, excluding those for ships as well as from electric power utilities, would go down 5.9% in the April-June period, reacting to a 1.4% dip in the first quarter.
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