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Financial News: Japan Core Machine Orders Slump In November

Japan Core Machine Orders Slump In November

01/17/2024 - 19:09:00 (RTTNews)

(RTTNews) - The value of core machine orders in Japan was down a seasonally adjusted 4.9 percent on month in November, the Cabinet Office said on Thursday - coming in at 816.7 billion yen.

That was well shy of expectations for a fall of 0.8 percent following the 0.7 percent increase in October.

On a yearly basis, orders dropped 5.0 percent - again missing forecasts for a gain of 0.2 percent after slipping 2.2 percent in the previous month.

For the fourth quarter of 2023, core machine orders are expected to add 0.5 percent on quarter and fall 1.6 percent on year at 2,550.6 billion yen.

The total value of machinery orders received by 280 manufacturers operating in Japan increased by 2.0 percent on month and 0.5 percent on year in November, standing at 2,706.9 billion yen.

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