— Japan Aug Machine Orders +11.0% M/M Vs July -8.2%
— Japan Aug Machine Orders MNI Poll Median Forecast +5.0% M/M
— Japan Aug Core Machinery Orders Post 1st M/M Rise In 2 Months
— Japan Gov Repeats: Machine Orders Picking Up
— Japan Aug Core Machinery Orders +2.1% Y/Y Vs July +4.0%
— Japan Aug Machine Orders From Overseas +32.3% M/M; July -9.8%
TOKYO (MNI) – Japan’s core private-sector machinery orders
rebounded sharply in August, posting the first rise in two months, but
orders from non-manufacturers, the key to a steady recovery, slumped for
the second straight month, data from the Cabinet Office showed on
Wednesday.
Analysts have warned of growing downside risks as overseas
economies are showing signs of a slowdown and the yen is staying near a
record high against the dollar.
In August, core private-sector machinery orders, which exclude
volatile demand from electric utilities and for ships and are viewed as
a leading indicator of corporate capital investment, rebounded by 11.0%,
following a 8.2% fall in July.
The August core figure came in much stronger than the median
forecast for a 5.0% rise in a Market News International survey of
economists.
The Cabinet Office maintained its longer-term assessment, saying,
“Machinery orders are picking up.”
In August, core private machinery orders rose 2.1% from a year
earlier, marking the fourth straight y/y rise, after a 4.0% rise in
July.
Offshore orders, which are not part of core orders, surged 32.3%
month on month in August, the first rise in six months, following a 9.8%
decline in July.
But overseas demand excluding large orders for power generating
machinery was “weak” in August, a Cabinet Office official told
reporters.
tokyo@marketnews.com
** Market News International Tokyo Newsroom: 81-3-5403-4835 **
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