— See Separate Tables For Details Of Individual Forecasts
TOKYO (MNI) – The following are the median forecasts for Japanese
economic data due in the coming week provided by economists surveyed by
MNI.
Core machinery orders, a leading indicator of private capital
spending, are expected to show a moderate increase in April after
falling in March, reflecting solid demand for rebuilding the areas hit
by the 2011 earthquake disaster.
The Cabinet Office has forecast that core machinery orders will
rise 2.5% on quarter in April-June, posting a second consecutive
quarterly gain after +0.9% in Q1 and -0.7% in Q4 2011.
But economists warn that the renewed appreciation of the yen on the
European debt crisis may make companies more cautious about investing in
factories and offices.
Meanwhile, producer prices as seen in the domestic corporate goods
price index (CGPI) is forecast to post a second consecutive year-on-year
fall as international commodity prices have been falling on concerns
about global demand.
The Bank of Japan’s overseas commodity index — composed of 17
items including crude oil, copper, gold, wheat and beef — fell 11.8%
on year in May, with the pace of decline accelerating from -8.2% in
April and no change in March.
Tuesday, June 12, 0850 JST (2350 GMT Monday): The Bank of Japan
releases May corporate goods price index (CGPI). Forecast: -0.4% on the
year after -0.2% in April and +0.5% in March.
Wednesday, June 13, 0850 JST (2350 GMT Tuesday): The Cabinet Office
releases April machinery orders. Forecast for core orders, which exclude
volatile demand from electric utilities and for ships: +1.6% on the
month, which would be the first gain in two months after -2.8% in March
and +2.8% in February.
skodama@marketnews.com
** MNI Tokyo Newsroom: 81-3-5403-4838 **
[TOPICS: M$J$$$,M$A$$$,MAJDS$]
