Jan. 14 (Bloomberg) -- Japanese machinery orders unexpectedly fell to a record low in November as tumbling domestic demand overwhelmed an export revival.
Orders, an indicator of business investment in three to six months, slid 11.3 percent from October, the Cabinet Office said today in Tokyo. The drop was the sharpest in a year and worse than all 25 estimates of economists surveyed by Bloomberg. Producer prices fell for a 12th month, a separate report showed.
The reports underscore concern that Japanâs recovery from its worst postwar recession has yet to spread from exporters and spur spending by companies and households. Prime Minister Yukio Hatoyama unveiled a stimulus package and a record budget last month to spur domestic demand.
http://www.bloomberg.com/apps/news?pid=20601068&sid=agBCP80bNV3o
Recovery ? LOL !!!
Orders, an indicator of business investment in three to six months, slid 11.3 percent from October, the Cabinet Office said today in Tokyo. The drop was the sharpest in a year and worse than all 25 estimates of economists surveyed by Bloomberg. Producer prices fell for a 12th month, a separate report showed.
The reports underscore concern that Japanâs recovery from its worst postwar recession has yet to spread from exporters and spur spending by companies and households. Prime Minister Yukio Hatoyama unveiled a stimulus package and a record budget last month to spur domestic demand.
http://www.bloomberg.com/apps/news?pid=20601068&sid=agBCP80bNV3o
Recovery ? LOL !!!