Fed officials favor QE3; Asian data signal drop in global demand
| Reuters
...
Japan's core machinery orders in May plunged 14.8 percent from April,
with the key gauge of capital spending sinking far below analyst
expectations of a 3.3 percent decline. That raised the risk that growth
momentum in the world's No. 3 economy will stall if firms start to scale
back investment.
Meanwhile consumer inflation in China, the world's second biggest
economy, eased more than expected in June, with producer prices in
outright deflation for a fourth month.
The numbers signal that demand for goods from the nation's vast
factory sector - especially from foreign customers - is declining as the
global economy weakens.
Exports from Taiwan, one of the world's largest producers of
electronics, declined in annual terms for a fourth straight month in
June against market expectations of a modest rise. Taiwanese firms make
the majority of Apple gadgets as well as smartphones for various brands,
and the dip reflects falling global demand for such consumer products.
Europe's biggest economy, Germany, announced that imports and
exports rose more in May than expected, but economists said it was a
rebound from weak figures in April.
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