Japan August 2007 Machinery Orders

Just a brief note on future orders in the key machinery sector. Machine orders declined by a more-than-expected 7.7 percent in August, after gaining 17 percent the month before, according to data from the Cabinet Office in Tokyo today. This is not quite as bleak a picture as it appears, since in fact overseas orders rose 23% over what had been a rather low level in July. To get some idea of where