— See Separate Table For Details Of Individual Forecasts
TOKYO (MNI) – Japan’s core private-sector machinery orders appear
to have risen a seasonally adjusted 6.0% on the month in November, which
would be the first rise in three months after -6.9% in October,
according to the median forecast of economists surveyed by Market News
International.
The Cabinet Office will release November machinery orders data at
0850 JST on Monday, Jan. 16 (2350 GMT on Sunday).
Core private-sector machinery orders, which exclude volatile demand
from electric utilities and for ships, are viewed as a leading indicator
of corporate capital investment.
Despite a forecast rebound in November, economists are cautious
about prospects for business investment.
“Capital investment is expected to be weak for the time being amid
lingering uncertainties caused by the strong yen and the European debt
crisis,” said Takumi Tsunoda, senior economist at Shinkin Central Bank.
Core machinery orders are forecast by the Cabinet Office to fall
3.8% in the October-December quarter, which would be the first drop in
four quarters.
Last month the Cabinet Office maintained its assessment, saying,
“Machinery orders are fluctuating, taking one step forward and one step
back.”
skodama@marketnews.com
** Market News International Tokyo Newsroom: 81-3-5403-4838 **
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