Japan Core Machine Orders Climb 3.4% In August

Core machine orders in Japan jumped a seasonally adjusted 3.4 percent on month in August, the Cabinet Office said on Wednesday – coming in at 882.4 billion yen.

That beat forecasts for an increase of 1.0 percent following the 8.0 percent spike in July.

On a yearly basis, core machine orders advanced 4.4 percent – again beating expectations for a gain of 0.8 percent following the 7.5 percent decline in the previous month.

The total value of machine orders, which includes volatile ones for ships and electric power companies, added 8.5 percent on month and 21.5 percent on year to 2,583.9 billion yen.

Manufacturing orders gained 16.1 percent on month and 14.8 percent on year to 413.0 billion yen, while non-manufacturing orders added 3.1 percent on month and lost 2.8 percent on year to 486.9 billion yen.

Government orders spiked 17.8 percent on month and 25.3 percent on year to 315.6 billion yen. Orders from overseas gained 11.5 percent on month and 44.5 percent on year to 1,110.0 billion yen. Orders from agencies eased 0.6 percent on month and gained 9.2 percent on year to 125.9 billion yen.

For the third quarter of 2017, core machine orders are forecast to have advanced 7.0 percent on quarter and 0.1 percent on year.
Source: RTT News