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Financial News: Japan June Core Machine Orders Slide 1.9%

Japan June Core Machine Orders Slide 1.9%

08/09/2017 - 20:45:00 (RTTNews)

(RTTNews) - Core machine orders in Japan skidded a seasonally adjusted 1.9 percent on month in June, the Cabinet Office said on Thursday - standing at 790.0 billion yen.

That was well shy of forecasts for an increase of 3.6 percent following the 3.6 percent decline in May.

On a yearly basis, core machine orders tumbled 5.2 percent - again missing expectations for a fall of 1.1 percent following the 0.6 percent increase in the previous month.

The total value of machine orders, which includes volatile ones for ships and electric power companies, added 2.1 percent on month and 4.3 percent on year to 2,270.6 billion yen.

Manufacturing orders dropped 5.4 percent on month and 3.2 percent on year to 345.8 billion yen, while non-manufacturing orders added 0.8 percent on month and lost 6.90 percent on year to 450.8 billion yen.

Government orders surged 50.1 percent on month and 15.8 percent on year to 277.1 billion yen. Orders from overseas lost 3.1 percent on month but surged 8.9 percent on year to 912.4 billion yen. Orders from agencies gained 3.6 percent on month and 11.6 percent on year to 127.5 billion yen.

For the second quarter of 2017, core machine orders were down 4.7 percent on quarter and 1.0 percent on year.

For the third quarter of 2017, core machine orders are forecast to have advanced 7.0 percent on quarter and 0.1 percent on year.

Also on Thursday, the Bank of Japan said that producer prices were up 0.3 percent on month in July. That exceeded expectations for an increase of 0.2 percent following the upwardly revised 0.1 percent gain in June (originally flat).

On a yearly basis, producer prices advanced 2.6 percent - again topping forecasts for 2.3 percent following the upwardly revised 2.2 percent increase in the previous month (originally 2.1 percent).

Export prices were up 0.1 percent on month and 2.5 percent on year, the bank said, while import prices fell 1.0 percent on month and surged 5.9 percent on year.

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