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Economy in Brief

Japan Machinery Orders Go Sour
by Robert Brusca September 11, 2008

Japan’s machinery orders fell sharply in July while the so called core order series fell, but by less than had been expected. Domestic orders have been listless for a year while foreign orders have been getting quite weak since early this year. Japan's two largest export markets are China and the US and both are slowing. The US slowdown has hit Japan especially hard. Still, orders is a volatile series. Even the so-called core is very volatile once the large projects are removed.

Japan Machinery Orders
  m/m % Saar %
SA Jul-08 Jun-08 May-08 3-Mos 6-Mos 12-Mos 12-Mo Ago
Total -8.5% -4.8% 10.8% -13.3% -36.6% -4.7% 8.0%
Core Orders* -3.9% -2.6% 10.4% 13.9% -23.1% -4.8% 7.8%
Total Orders
Foreign Demand -14.4% -12.1% 21.1% -30.8% -51.8% -7.4% 13.3%
Domestic demand -5.2% 3.6% 2.3% 2.0% -12.1% -2.4% 4.7%
*Excluding ships and electric power.
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