The figures are a sign that bank lending will probably start to show year-on-year rises in the January-March quarter.
The main figure doesn't look very strong, but taken as a whole the survey still points to a moderate economic recovery under way.
Less than 250 seats and things could get difficult for Koizumi.
Demand for Japanese cars is increasing and automakers are constantly looking to improve efficiencies at their factories.
Given that our projection is that the index will recover in August, we can say today's numbers don't suggest Japan's economic recovery is derailing.
Capital spending is going to remain strong for the rest of the fiscal year.
Exports to the United States should increase over the next few months. The outlook for exports to Asia is slightly less clear ... but overall, I see the trade balance increasing through the rest of the year.
The numbers are very strong. The headline may not look that good, but the reality is far more positive.
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