The main focus is exports, which in fact were even stronger than our expectations. I would say that the data is actually quite positive.
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.