Japan Core Machine Orders Sink 3.9% In March
(RTTNews) - The value of core machine orders in Japan was down a seasonally adjusted 3.9 percent on month in March, the Cabinet Office said on Monday - coming in at 852.9 billion yen.
That was well shy of forecasts for an increase of 0.7 percent following the 4.5 percent decline in February.
On a yearly basis, core machine orders were down 3.5 percent - also missing expectations for an increase of 1.4 percent following the 9.8 percent jump in the previous month.
For the first quarter of 2023, orders were up 2.6 percent on quarter and 1.8 percent on year at 2,670.5 billion yen.
For the second quarter of 2023, core machine orders are forecast to rise 4.6 percent on quarter and sink 1.6 percent on year.
The total value of machinery orders received by 280 manufacturers operating in Japan decreased by 2.8 percent on month in March. In the first quarter, it fell 8.7 percent compared with the previous quarter.
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