Japan machinery orders seen ‘moving sideways’
According to The Wall Street Journal, Japanese core machinery orders registered their biggest gain in seven years in January.
Japanese core machinery orders registered their biggest gain in seven years in January, but the gain was due to one-time factors. Core machinery orders, which are often used to gauge the outlooks for business investment, jumped 19.6% from December, the Cabinet Office said.
Despite the gain, the government left its assessment of the orders unchanged for the ninth straight month, saying they are “moving sideways,” because much of the rise was due to one-time orders, a government official said. The U.S. economic slowdown and a stronger yen are adding to risks.
Read the complete article in The Wall Street Journal .
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