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Economy in Brief

June Machinery Orders in Japan Point to Continued Expansion in the Economy
by Louise Curley August 9, 2004

June machinery orders point to continued expansion in the Japanese economy. Machinery orders rose sharply in June. Foreign and public orders, taken together, were up 8.20% and core private orders, excluding ships and utilities were up 3.90%

Particularly encouraging was the 10.13% rise in private non-manufacturing orders. These orders had risen less than 7% in 2003 while manufacturing orders were up almost 18%. Manufacturing orders declined in June but the 12.4 billion yen decline was more than accounted for by the 33 billion yen drop in machinery orders of the iron and steel industry. Iron and steel orders were 11.2 billion yen in April, 43.0 in May and back down to 9.0billion yen in June.

Machinery Orders (Billions of Yen) Jun 04 May 04 Jun  03 M/M % Y/Y %  2003 % 2002  %  2001 %
Foreign + Public 1011.7 935.0 1284.3 8.2 -21.26 22.22 -4.64 -10.68
Private excl. 
ships & utilities
1036.0 997.1 940.2 3.90 10.19 11.05 -12.07 -6.26
Non-manufacturing 604.1 548.5 562.7 10.13 7.36 6.74 -11.51 2.01
Manufacturing 433.8 446.2 378.6 -2.77 14.57 17.57 -12.33 -17.10
Iron and Steel 9.0 43.0 14.4 -79.18 -37.84 24.99 -31.06 2.04
Manufacturing excl. iron & steel 424.8 403.2 364.2 5.35 16.64 17.27 -11.47 1.86
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