Japan Core Machine Orders Rise 0.7% In October
(RTTNews) - The value of core machine orders in Japan was up a seasonally adjusted 0.7 percent on month in October, the Cabinet Office said on Thursday - coming in at 858.7billion yen.
That beat expectations for a decline of 0.5 percent following the 1.4 percent increase in September.
On a yearly basis, core machine orders fell 2.2 percent - but that also topped forecasts for a drop of 5.1 percent following the 2.2 percent drop in the previous month.
Government orders tumbled 37.9 percent on month and rose 1.7 percent on year to 269.9 billion yen, while orders from overseas jumped 18.2 percent on month and eased 0.6 percent on year to 1,268.1 billion yen.
For the fourth quarter of 2023, core machine orders are forecast to add 0.5 percent on quarter but fall 1.6 percent on year at 2,550.6 billion yen.
The total value of machinery orders received by 280 manufacturers operating in Japan decreased by 7.6 percent on month in October.
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