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Financial News: Japan Core Machinery Orders Rebound In July

Japan Core Machinery Orders Rebound In July

09/14/2022 - 02:13:00 (RTTNews)

(RTTNews) - Japan core machinery orders unexpectedly rebounded in July driven by a surge in non-manufacturing orders, data published by the Cabinet Office showed Wednesday.

Core machinery orders advanced 5.3 percent from the previous month, following a 0.9 percent rise in June. Orders were forecast to fall 0.8 percent.

Orders from manufacturers were down 5.4 percent, while demand from non-manufacturers climbed sharply by 15.1 percent.

On a yearly basis, growth in core machinery orders accelerated to 12.8 percent from 6.5 percent in June. Economists had forecast an annual expansion of 6.6 percent.

Overall machinery orders logged a monthly growth of 0.3 percent in July, in contrast to the 2.2 percent fall a month ago.

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