Japan Machinery Orders Up 8.8%

Japan’s core machinery orders rose 8.8 percent on month in June marking the first rise in three months, government data showed on Thursday.

The month-on-month rise in core orders, a highly volatile data series regarded as an indicator of capital spending in the coming six to nine months, was below expectations for a 15.3 percent rise in a Reuters poll and followed a 19.5 percent decline in May.

Core machinery orders declined 3 percent on year in June, below expectations for a 3.3 percent rise in a Reuters poll.  Companies surveyed by the Cabinet Office forecast that core orders will rise 2.9 percent in the July-to-September period. They fell 10.4 percent in the April-to-June period marking their first quarterly decline in five quarters and their largest quarterly decline since the January-to-March period of 2009.


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