The headline figures are quite strong. Machinery orders are a leading indicator of capital spending, and this outcome shows corporate spending will be strong at least in the first half of 2006.

The gains in imports are a sign of strong domestic demand and show how resilient the economy is now. With growth in the U.S. and other export markets set to accelerate, exports will be strong for some time.

Share prices were weaker as many investors are keenly awaiting the machinery orders (figures).

The recovery in employment and incomes should continue bolstering consumption ahead. And the recent machinery orders data suggests capital spending will maintain an uptrend into the fourth quarter onwards.

This left orders in the fourth quarter up an impressive 4.1% quarter-on-quarter and points to strong capital spending in the early months of 2006, which will likely make the Bank of Japan that much more confident that the time is approaching to start removing its ultra-easy monetary policy.

Our figures show that nearly four million people went angling last year leading to 20,000 jobs and total spending of a huge £3 billion annually on the sport - one project alone in Wales generated almost £30 million through angling tourism.