March private machine orders excluding volatile ones for ships and electric power companies were up 2.9 percent. For the January to March quarter, these orders increased 6.3 percent on the quarter. For the April to June period, private sector orders excluding volatile ones are projected to drop 7.4 percent from the previous quarter. These orders serve as a proxy for capital spending.
The total value of machinery orders received by 280 manufacturers increased 1.8 percent in March from the previous month on a seasonally adjusted basis. In January to March period it rose by 12.0 percent compared with the previous quarter.
In the 2014 fiscal year the total amount of machinery orders increased by 8.4 percent while private sector orders excluding volatile ones edged up 0.8 percent.
The total value of new private-sector purchase orders placed with manufacturers for machines, excluding ships and utilities. It is a leading indicator of production. Rising purchase orders signal that manufacturers will increase activity as they work to fill the orders.
It is a leading indicator of production. Rising purchase orders signal that manufacturers will increase activity as they work to fill the orders. The importance of machinery orders cannot be overstated given the economy's dependence on exports. The purpose of these data is to get a picture of machinery manufacturers' order books and to collect basic material for analyzing the direction of the economy through an early understanding of trends in capital investment in machinery.
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