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Financial News: Japan Core Machine Orders +6.7% In December

Japan Core Machine Orders +6.7% In December

02/08/2017 - 21:17:00 (RTTNews)

(RTTNews) - Core machine orders in Japan were up 6.7 percent on month in December, the Cabinet Office said on Thursday - coming in at 889.8 billion yen.

That topped forecasts for an increase of 3.1 percent following the 5.1 percent contraction in November.

On a yearly basis, core machine orders also advanced 6.7 percent - beating forecasts for a gain of 4.5 percent and down from 10.4 percent in the previous month.

The total number of machinery orders, including those volatile ones for ships and from electric power companies, added 8.6 percent on month and 21.9 percent on year to 1,190.2 billion yen.

Manufacturing orders added 1.0 percent on month and 10.9 percent on year to 367.0 billion yen in December, while non-manufacturing orders added 3.5 percent both on month and on year to 500.2 billion yen.

Government orders fell 2.9 percent on month and surged 30.5 percent on year to 321.7 billion yen. Orders from overseas skidded 16.2 percent on month and 5.9 percent on year to 920.6 billion yen. Orders from agencies gained 1.4 percent on month and 9.4 percent on year to 121.2 billion yen.

For the fourth quarter, core machine orders fell 0.2 percent on quarter and gained 3.6 percent on year.

For the first quarter, core machine orders are forecast to have gained 3.3 percent on quarter and 2.7 percent on year.

Also on Thursday, the Bank of Japan said that the M2 money stock in Japan was up 4.1 percent on year in January, standing at 961.6 trillion yen.

That exceeded forecasts for a gain of 4.0 percent, which would have been unchanged from the December reading.

The M3 money stock was up an annual 3.5 percent to 1,285.9 trillion yen - in line with expectations and up from 3.4 percent in the previous month.

The L money stock added 5.8 percent to 1,678.6 trillion yen after rising 6.2 percent a month earlier.

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