Financial News: Japan Core Machine Orders Surge 9.5% In January

Japan Core Machine Orders Surge 9.5% In January

03/15/2023 - 20:10:00 (RTTNews)

(RTTNews) - The value of core machine orders in Japan was up a seasonally adjusted 9.5 percent on month in January, the Cabinet Office said on Thursday - coming in at 929.6 billion yen.

That beat forecasts for an increase of 1.8 percent following the downwardly revised 0.3 percent gain in December (originally up 1.6 percent).

On a yearly basis, orders improved 4.5 percent - again topping expectations for a fall of 3.5 percent following the 6.6 percent decline in the previous month.

For the first quarter of 2023, core machine orders are forecast to rise 2.9 percent on quarter and 3.3 percent on year.

The total value of machinery orders received by 280 manufacturers operating in Japan slumped 10.2 percent on month in January.

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