— 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 have fallen on the month in March, taking a
breather after posting solid gains for the previous two months. But they
would still mark the first q/q rise in two quarters in January-March.
Some economists said companies remain cautious about expanding
domestic production capacity as the yen stays relatively strong and
global growth is slowing.
The Cabinet Office will release revisions to past figures when it
releases March machinery orders, which might prompt it to revise its
assessment. Last month it upgraded its view for the first time in eight
months, saying that “machinery orders are rising gradually.”
Meanwhile, producer prices as seen in the domestic corporate goods
price index (CGPI) will post the first year-on-year drop in April since
-0.1% in September 2010 as slower global demand has led to softer prices
of crude oil and steel among other commodities.
The Bank of Japan’s overseas commodity index — composed of 17
items including crude oil, copper, gold, wheat and beef — fell 8.2% y/y
in April after no change in March and +2.2% in February.
Monday, May 14, 0850 JST (2350 GMT Sunday): The Bank of Japan
releases April corporate goods price index (CGPI). Forecast: -0.3% on
the year, after +0.6% in both March and February.
Wednesday, May 16, 0850 JST (2350 GMT Tuesday): The Cabinet Office
releases March and Q1 machinery orders. Forecast for core orders, which
exclude volatile demand from electric utilities and for ships: -3.2% on
the month, which would be the first fall in three months after +4.8% in
February and +3.4% in January.
skodama@marketnews.com
** MNI Tokyo Newsroom: 81-3-5403-4838 **
[TOPICS: M$J$$$,M$A$$$,MAJDS$]
