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Financial News: Japan Core Machine Orders Slip 1.7% In January

Japan Core Machine Orders Slip 1.7% In January

03/17/2024 - 20:10:00 (RTTNews)

(RTTNews) - The value of core machine orders in Japan was down a seasonally adjusted 1.7 percent on month in January, the Cabinet Office said on Monday - coming in at 823.8 billion yen.

That missed forecasts for a decline of 1.0 percent following the downwardly revised 1.9 percent increase in December (originally 2.7 percent).

On a yearly basis, core machine orders slumped 10.9 percent - but that beat expectations for a fall of 11.2 percent following the 0.7 percent decline in the previous month.

Government orders surged 24.4 percent on month and 74.6 percent on year in January, while orders from overseas fell 4.4 percent on month but gained 9.4 percent on year and orders through agencies rose 0.7 percent both on month and on year.

For the first quarter of 2024, core machine orders are forecast to rise 4.9 percent on quarter and fall 0.1 percent on year.

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