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Financial News: Japan Core Machine Orders Climb 3.7% On Month

Japan Core Machine Orders Climb 3.7% On Month In March

05/19/2021 - 20:45:00 (RTTNews)

(RTTNews) - The value of core machine orders in Japan advanced a seasonally adjusted 3.7 percent on month in March, the Cabinet Office said on Thursday - standing at 798.1 billion yen.

That missed expectations for an increase of 6.4 percent following the 8.5 percent decline in February.

On a yearly basis, core machine orders fell 2.0 percent - beating forecasts for a fall of 2.6 percent after sinking 7.1 percent a month earlier.

The total value of machinery orders received by 280 manufacturers operating in Japan plummeted 30.0 percent on month in March and slipped 4.6 percent on year.

Manufacturing orders were down 0.1 percent on month and up 2.9 percent on year at 342.2 billion yen, while non-manufacturing orders jumped 9.5 percent on month and sank 4.9 percent on year at 463.0 billion yen.

Government orders rose 2.7 percent on month and fell 4.0 percent on year at 264.1 billion yen, while orders from overseas plummeted 53.9 percent on month and 0.1 percent on year at 832.5 billion yen. Orders through agencies rose 3.2 percent on month and lost 2.4 percent on year at 108.1 billion yen.

For the first quarter of 2021. Core machine orders shed 5.3 percent on quarter and 2.5 percent on year at 2,409.5 billion yen. Overall orders gained 9.7 percent on quarter and 7.9 percent on year at 7,747.1 billion yen.

For the second quarter of 2021, core machine orders are forecast to rise 2.5 percent on quarter and 10.5 percent on year at 2,470.3 billion yen.

Also on Thursday, the Ministry of Finance said that Japan posted a merchandise trade surplus of 255.3 billion yen in April. That exceeded expectations for a surplus of 140 billion following the downwardly revised 662.2 billion yen surplus in March (originally 663.7 billion yen).

Exports surged 38.0 percent on year to 7.181 trillion yen, beating forecasts for a gain of 30.9 percent after climbing 16.1 percent in the previous month.

Imports advanced an annual 12.8 percent to 6.925 trillion yen versus expectations for a gain of 8.8 percent and up from 5.8 percent a month earlier.

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