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Economy in Brief

Machinery Orders in Japan Grow but Core Orders Still Struggle
by Robert Brusca December 11, 2007

Overall Japan orders are up sharply in October at 18.7% and core orders are up a strong 12.7%. But over three months overall orders are a strong +29.1% while core orders are off at a 14.5% pace. Over the past 12 months core orders are up by just 3.6%. Since mid-2006 core orders, those excluding large lumpy projects, are fluctuating around zero. The foreign/domestic breakdown shows year/year orders strength is coming from the foreign sector with growth in orders of 19.4% compared to year/year domestic orders of just 6.6%.

Japan Machinery Orders
  m/m % SAAR %
SA Oct-07 Sep-07 Aug-07 3-Mos 6-Mos 12-Mos
Total 18.7% -14.5% 7.1% 39.1% 14.0% 11.5%
Core Orders* 12.7% -7.6% -7.7% -14.5% 13.9% 3.6%
Total Orders
Foreign Demand 16.0% -7.8% 23.0% 199.4% 35.6% 19.4%
Domestic demand 12.1% -9.6% -4.2% -11.2% 5.3% 6.6%
* Excl ships and electric power
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