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Yahoo! My Yahoo! Mail More Yahoo! Services Account Options New User? Sign Up Sign In Help Yahoo! Search web search Home Singapore Asia Pacific World Business Entertainment Sports Technology Singapore Asia Pacific World Japan machinery orders rise 5.4 percent in March AP - Monday, May 17 Send IM Story Print TOKYO – Japan's machinery orders, a closely watched indicator of future business investment, rose in March for the first time in three months, indicating companies are becoming bullish on spending in line with an economic recovery. The Cabinet Office said Monday that Japan's core machinery orders in March increased 5.4 percent from the previous month to 732.9 billion yen ($7.9 billion). The figure excludes volatile numbers from shipbuilders and electric power companies. The March result was better than Kyodo News agency's average market forecast of a 5.2 percent increase. "Overall, companies are boosting their investments again on the back of Japan's economic recovery. Among key sectors, the auto and machinery sectors are increasing their spending," said Hiroshi Watanabe, an economist at Daiwa Institute of Research. The government said it expects core machinery orders in the April-June quarter to grow 1.6 percent from the previous quarter. Japan's machinery orders have been rising on a quarterly basis since the July-September period last year when orders slipped 0.7 percent. A recovery in machinery orders is vital to Japan's economy _ the world's second-largest. Corporate investment alone accounts for around 13 percent of Japan's gross domestic product. Orders from manufacturers rose 3.1 percent in March, while orders from non-manufacturers jumped 12.6 percent. Overseas orders climbed 3.9 percent in the month. In the previous fiscal year to March 2010, core machinery orders dropped a record 20.6 percent to 8.43 trillion yen _ the lowest level since Japan began compiling the statistics in 1987, the government said. Recommend Send IM Story Print Related Articles Thai Amata keeps land sales target despite violence Reuters - 25 minutes ago Samsung doubles 2010 capex to record $16 bln Reuters - 26 minutes ago Hochtief CEO says business picked up in Q2 Reuters - 30 minutes ago S.Korean utilities buy 3.13 mln T Moolarben coal Reuters - 32 minutes ago Indonesia's Mandiri renews president director's term Reuters - 34 minutes ago News Search Top Stories Portugal takes more austerity measures EU's Barroso calls on G20 to agree bank levy Portugal announces more austerity measures Boy survivor of Libya air crash 'stable but confused' Asia steps into Cannes spotlight More Top Stories » ADVERTISEMENT Most Popular Most Viewed Most Recommended Boy survivor of Libya air crash 'stable but confused' Portugal takes more austerity measures Asia steps into Cannes spotlight Pope rallies priests as crowds flock to Fatima Scientists stunned as grey whale sighted off Israel More Most Viewed » Scientists stunned as grey whale sighted off Israel Lack of sleep linked to early death: study UN fears 'irreversible' damage to natural environment Earth may be too hot for humans by 2300: study Freddie Mac asks for fresh 10.6 billion dollar bailout More Most Recommended » Elsewhere on Yahoo! Financial news on Yahoo! Finance Stars and latest movies Best travel destinations More on Yahoo! News Home Singapore Asia Pacific World Business Entertainment Sports Technology Subscribe to our news feeds Top StoriesMy Yahoo!RSS » More news feeds | What are news feeds? Also on Yahoo Answers Groups Mail Messenger Mobile Travel Finance Movies Sports Games » All Yahoo! Services Site Highlights Singapore Full Coverage Most Popular Asia Entertainment Photos World Cup 2010 Copyright © 2010 Yahoo! Southeast Asia Pte. Ltd. (Co. Reg. No. 199700735D). All Rights Reserved. Terms of Service | Privacy Policy | Community | Intellectual Property Rights Policy | Help

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