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Financial News: Japan Core Machine Orders Tumble 8.3% In November

Japan Core Machine Orders Tumble 8.3% In November

01/17/2023 - 19:10:00 (RTTNews)

(RTTNews) - The value of core machine orders in Japan was down a seasonally adjusted 8.3 percent on month in November, the Cabinet Office said on Wednesday - coming in at 838.8 billion yen.

That was well shy of forecasts for a decline of 09 percent following the 5.4 percent increase in October.

On a yearly basis, core machine orders sank 3.7 percent - again missing forecasts for a gain of 2.4 percent following the 0.4 percent increase in the previous month.

For the fourth quarter of 2022, core machine orders are expected to have 3.6 percent on quarter and 5.3 percent on year.

The total value of machinery orders received by 280 manufacturers operating in Japan fell 1.0 percent on month and 5.5 percent on year in November.

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