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Financial News: Japan May Core Machine Orders Jump 7.8%

Japan May Core Machine Orders Jump 7.8%

07/11/2021 - 20:45:00 (RTTNews)

(RTTNews) - The total value of core machine orders in Japan climbed a seasonally adjusted 7.8 percent on month in May, the Cabinet Office said on Monday - standing at 865.7 billion yen.

That exceeded expectations for an increase of 2.6 percent following the 0.6 percent increase in April.

On a yearly basis, core machine orders jumped 12.2 percent - again beating forecasts for 6.3 percent after rising 6.5 percent in the previous month.

Manufacturing orders were up 2.8 percent on month and 37.9 percent on year at 390.1 billion yen, while non-manufacturing orders jumped 10.0 percent on month but fell 4.7 percent on year to 453.2 billion yen.

Government orders rose 3.1 percent and fell 23.2 percent on year to 265.2 billion yen, while orders from overseas surged 11.4 percent on month and 125.7 percent on year to 1,356.3 billion yen.

The total value of machinery orders - including volatile ones for ships and those from electric power companies - received by 280 manufacturers operating in Japan jumped 9.8 percent on month and 41.9 percent on year in May to 2,754.7 billion yen.

Core machine orders are forecast to gain 2.5 percent on quarter and 10.5 percent on year in the second quarter of 2021.

Also on Monday, the Bank of Japan said that producer prices in Japan were up 0.6 percent on month in June, following the upwardly revised 0.8 percent increase in May (originally 0.7 percent).

On a yearly basis, producer prices climbed 5.0 percent - easing slightly from 5.1 percent in the previous month.

Individually, prices were up for petroleum and coal, iron and steel, lumber and utilities.

Export prices were up 1.0 percent on month and 11.3 percent on year, the bank said, while import prices jumped 2.3 percent on month and 28.0 percent on year.

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