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Financial News: Japan Core Machine Orders Sink 5.6% In May

Japan Core Machine Orders Sink 5.6% In May

07/10/2022 - 20:15:00 (RTTNews)

(RTTNews) - The value of core machine orders in Japan was down a seasonally adjusted 5.6 percent on month in May, the Cabinet Office said on Monday - coming in at 908.8 billion yen.

That just missed expectations for a decline of 5.5 percent following the 10.8 percent spike in April.

On a yearly basis, core machine orders climbed 7.4 percent - beating forecasts for 5.8 percent and down from 19.0 percent in the previous month.

For the second quarter of 2022, core machine orders are seen lower by 8.1 percent on quarter and 5.6 percent on year at 2,370.6 billion yen.

Overall machine orders were down 10.1 percent on month and up 17.9 percent on year to 3,027.3 billion yen.

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