14.09.202300:10:00UTC+00Japan Core Machine Orders Sink 1.1% In July

The value of core machine orders in Japan slumped a seasonally adjusted 1.1 percent on month in July, the Cabinet Office said on Thursday - coming in at 844.9 billion yen.

That missed expectations for a decline of 0.9 percent following the 2.7 percent increase in June.

On a yearly basis, core machine orders stumbled 13.0 percent - again shy of forecasts for a decline of 10.7 percent after shedding 5.8 percent in the previous month.

For the third quarter of 2023, core machine orders are seen lower by 2.6 percent on quarter and 7.9 percent on year at 2,517.4 billion yen.

The total value of machinery orders received by 280 manufacturers operating in Japan increased by 9.8 percent on month and 0.8 percent on year to 2,901.4 billion yen.