Core machine orders in Japan surged a seasonally adjusted 8.0 percent on month in July, the Cabinet Office said on Monday – standing at 853.3 billion yen.
That beat forecasts for an increase of 4.1 percent following the 1.9 percent decline in June.
On a yearly basis, core machine orders tumbled 7.5 percent – again beating expectations for a decline of 7.8 percent following the 5.2 percent decline in the previous month.
The total value of machine orders, which includes volatile ones for ships and electric power companies, added 4.9 percent on month and 10.2 percent on year to 2,382.2 billion yen.
Manufacturing orders gained 2.9 percent on month and fell 1.8 percent on year to 355.7 billion yen, while non-manufacturing orders added 4.8 percent on month and lost 12.3 percent on year to 472.3 billion yen.
Government orders shed 3.3 percent on month and 1.6 percent on year to 267.8 billion yen. Orders from overseas gained 9.1 percent on month and 30.1 percent on year to 995.9 billion yen. Orders from agencies eased 0.6 percent on month and gained 8.2 percent on year to 126.7 billion yen.
For the third quarter of 2017, core machine orders are forecast to have advanced 7.0 percent on quarter and 0.1 percent on year.
Also on Monday, the Bank of Japan said that the M2 money stock in Japan was up 4.0 percent on year in August, coming in at 978.0 trillion yen.
That was unchanged from the July reading, although it was shy of estimates for a gain of 4.1 percent.
The M3 money stock gained 3.4 percent on year to 1,305.0 trillion yen – unchanged and in line with forecasts.
The L money stock jumped an annual 3.7 percent to 1,710.0 trillion yen, following the 3.5 percent gain in the previous month.
by RTT Staff Writer
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