Financial News: Japan Core Machinery Orders Rebound In June

Japan Core Machinery Orders Rebound In June

08/19/2024 - 03:53:00 (RTTNews)

(RTTNews) - Japan's core machinery orders rebounded more than expected in June, data from the Cabinet Office revealed on Monday.

Core machinery orders that exclude volatile orders for ships and electric utilities, expanded 2.1 percent from the prior month, faster than the expected 0.9 percent increase and reversed May's 3.2 percent decline.

Meanwhile, core machinery orders posted an annual decline of 1.7 percent, in contrast to the 10.8 percent increase in May.

In the second quarter, core machinery orders were down 0.1 percent. This follows the 4.4 percent increase seen in the preceding quarter. Core orders are forecast to grow 0.2 percent in the third quarter.

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