— Japan Oct Machine Orders -6.9% M/M; MNI Median Forecast -0.5%
— Japan Oct Core Machine Orders Post 2nd M/M Fall in Row; Sep -8.2%
— Japan Govt Repeats View: Machine Orders Are Fluctuating
— Japan Oct Core Machinery Orders +1.5% Y/Y Vs Sep +9.8%
— Japan Oct Machine Orders From Overseas +1.6% M/M; Sep -21.7%
TOKYO (MNI) – Japan’s core private-sector machinery orders fell at
a faster-than-expected pace in October as slowing global demand and the
strong yen threaten the export-led recovery, data from the Cabinet
Office showed on Thursday.
In October, 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 — fell 6.9% on the
month after a 8.2% drop in September.
The October figure was much worse than the median forecast in a
Market News International survey of economists for a 0.5% dip.
Core machinery orders are forecast to fall 3.8% in the
October-December quarter from the previous quarter, the first fall in
four quarters, following a 1.5% increase in the July-September quarter.
The Cabinet Office maintained its assessment, saying, “Machinery
orders are fluctuating, taking one step forward and one step back.”
** Market News International Tokyo Newsroom: 81-3-5403-4835 **