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Japan Core Machine Orders Sink 0.5% In August

The value of core machine orders in Jaan was down a seasonally adjusted 0.5 percent on month in August, the Cabinet Office said on Thursday – coming in at 840.7 billion yen.

That missed forecasts for a gain of 0.4 percent following the 1.1 percent drop in July.

On a yearly basis, orders were down 7.7 percent – again missing expectations for a fall of 7.3 percent after tumbling 13.0 percent in the previous month.

Government orders were down 22.3 percent on month and 3.3 percent year at 266.6 billion yen, while orders from overseas slumped 7.1 percent on month and 11.6 percent on year to 1,111.3 billion yen and orders through agencies rose 10.1 percent on month and 7.8 percent on year to 126.6 billion yen.

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

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