— Japan Govt Repeats View: Machine Orders Picking Up
— Japan Sep Core Machine Orders Ex-Handsets -14.2%; Aug +11.2%
— Japan Oct-Dec Core Machine Orders Seen -9.8% Q/Q Vs Q3 +9.6%
— Japan Sep Core Machinery Orders +4.2% Y/Y Vs Aug +24.1%
— Japan Sep Core Machinery Orders Post 3rd Y/Y Rise In Row
TOKYO (MNI) – Japan’s core private-sector machinery orders plunged,
as expected, by a seasonally adjusted 10.3% in September from the
previous month after large orders pushed up August’s figure to a
surprise +10.1%, the Cabinet Office said on Thursday.
The core figure posted the first decline in four months since May
(-9.1% m/m) and came in largely line with the consensus forecast for
-10.0% m/m (forecast range: -15.0% to -3.0%).
Core orders rose 9.6% in July-September from the previous quarter,
marking the fourth straight quarterly gain, but are estimated by the
Cabinet Office to fall 9.8% in October-December.
Compared to a year earlier, core private machinery orders rose 4.2%
in September, posting the third straight y/y gain, after rising 24.1% in
August.
Looking at the longer-term trend, the Cabinet Office repeated its
recent assessment, saying, “Machinery orders are picking up.”
Last month it upgraded its view from the previous statement that
“there are signs of a pickup.”
Core private-sector machinery orders, which exclude volatile demand
from electric utilities and for ships, are views as a leading indicator
of corporate capital investment.
Core private orders minus mobile handsets, a fairly new reading
used as a guide to the underlying orders trend, fell 14.2% m/m after
+11.2% in August. It was the first drop since -13.3% in May.
tokyo@marketnews.com
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