September 2012 | Steel Tracker
Rebound in Japanese reconstruction: International Long Product Market Analysis
The increase in capital spending, a strong gauge of the condition of economic growth, has relieved worried investors over the immediate outlook of the world’s third largest economy.
Data released earlier this week outlined the promising expectations for the Japanese economy as machinery orders rose for a second month in July a sign of the rapid improvement in rebuilding activity across the quake hit northeast.
The increase in capital spending, a strong gauge of the condition of economic growth, has relieved worried investors over the immediate outlook of the world’s third largest economy. Core orders for machinery which excludes power and shipbuilding, rose 4.6% year-on-year in July beating analyst expectations and building on the momentum gained after the 5.6% year-on-year growth in June.
The positive data suggests that capital spending is set on a steady path to recovery, but weaker exports magnified by a stronger yen and worries...
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