Japan’s core machinery orders fell 2.7% m/m for June

  • Expected was -7%
  • Prior was 10.5% (graph of prior data here)

For the y/y, came in at 4.6%

  • Expected was 2.6%
  • Prior was 16.5%

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  • Companies surveyed by the Cabinet Office forecast that core orders will fall 5.3% in July-September
  • there was a rise of 6.8% in April-June (the first increase in five quarters)

The Cabinet Office said machinery orders are gradually picking up. Previously, it had said they were showing signs of a slow pickup.

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