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Financial News: Japan Core Machine Orders Spike 7.8% In May

Japan Core Machine Orders Spike 7.8% In May

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

(RTTNews) - The value of core machine orders in Japan was up a seasonally adjusted 7.8 percent on month in May, the Cabinet Office said on Monday - coming in 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.

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 in May.

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