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Economy in Brief

Japan Machinery Orders Show Strength
by Robert Brusca March 10, 2008

Japan orders are showing signs of erratic rebound. Orders hit their cycle low early in 2007. Since then they have been rebounding irregularly. Foreign demand is showing the sharpest increase but the domestic/foreign order breakdowns are for total orders not core orders explaining why the two series are so volatile.

The table below shows that the core orders with the lesser volatility are now in a clear trend and are recovering strongly over the recent 3 months. The progression from two years ago forward shows steady improvement in order growth rates.

Japan Machinery Orders
  m/m % Saar %
SA Jan-08 Dec-07 Nov-07 3-Mos 6-Mos 12-Mos 12-Mo Ago
Total 26.5% -6.8% -5.9% 51.3% 45.1% 18.9% 11.4%
Core Orders* 19.6% -3.2% -2.8% 60.1% 17.0% 11.4% 2.6%
Total Orders
Foreign Demand 43.1% -4.9% -18.4% 51.8% 113.2% 41.1% 19.5%
Domestic demand 15.5% -8.3% 3.5% 44.6% 13.3% 5.0% 8.0%
* Excl ships and electric power
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