Japan Core Machine Orders Slump 1.9% In August

(RTTNews) - The value of core machine orders in Japan was down a seasonally adjusted 1.9 percent on month in August, the Cabinet Office said on Wednesday - coming in at 858.1 billion yen.

That missed forecasts for a decline of 0.1 percent, which would have been the same as the July reading.

On a yearly basis, core machine orders dropped 3.4 percent - well shy of forecasts for an increase of 3.6 percent and down sharply from 8.7 percent in the previous month.

For the third quarter of 2024, core machine orders are forecast to add 0.2 percent on quarter and 3.9 percent on year to 2,626.7 billion yen.

The total value of machinery orders received by 280 manufacturers operating in Japan decreased by 3.0 percent on month but climbed 15.5 percent on year in August at 2,961.4 billion yen.