Manufacturing

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Raising Profits without Raising Sales - What's the Bottom Line?

Japan’s firms, particularly its 5,000 largest firms, have mastered the art of producing growth in profits without growth in sales. They’ve done this by cutting costs, particularly labor costs.

TOE Alert: Machinery Orders up a Lot, But Beware of Monthly Gyrations

Japan-watchers got very excited because core private machinery orders in October were up 10% on a month-on-month basis, However, the monthly movements in orders have very large gyrations, even though the most volatile elements are removed from core orders. Bottom line: core orders could be a genuine “green shoot,” or one month’s surprising number may be misleading us.

Data Round-Up: Regionals Show Solid Services, Some Mfg Improvement in 15Q2; Home Price Gains Healthy

FMI’s analyses of this morning’s June Chicago PMI and other Regional Business Surveys and April Home Prices data.

Data Round-Up: Real Equipment Likely Rose Just +5% in 15Q1

FMI’s analysis of this morning’s March Durable Goods Orders report.

Data Round-Up: Vehicle Sales Off to Strong 2015 Start; Services Holding Up Well

FMI’s analyses of January Vehicle Sales and the January Non-Manufacturing Index.

TOE Alert: Offshoring Continues to Grow Despite Weak Yen

Richard analyzes the reason behind Japanese multinational companies' growing trend to produce in overseas countries, especially in Asia, despite the weakening yen.