JAPAN DATA: Public works projects included in four supplementary budgets
for fiscal 2011 and fiscal 2012, which are designed to boost
reconstruction of disaster-hit areas, were smoothly contracted, data
released by East Japan Construction Surety show. Orders for public works
projects received by private construction firms rose 8.0% on year in
March, showing the eighth straight monthly y/y gain, after +16.8% in
February and +8.5% in January. The Bank of Japan revised up its view on
public works projects, saying, “Public investment has recently started
to increase” in its April monthly report.