Core machine orders in Japan advanced a seasonally adjusted 1.5 percent on month in February, the Cabinet Office said on Wednesday – standing at 850.5 billion yen.
That missed expectations for an increase of 3.6 percent following the 3.2 percent decline in January.
On a yearly basis, core machine orders advanced 5.6 percent, topping forecasts for a gain of 2.5 percent following the 8.2 percent decline in the previous month.
The total value of machine orders, which includes volatile ones for ships and electric power companies, fell 1.3 percent on month and 0.9 percent on year to 2,207.5 billion yen.
Manufacturing orders gained 6.0 percent on month and 9.5 percent on year to 350.8 billion yen in February, while non-manufacturing orders added 1.8 percent on month and 2.7 percent on year to 516.6 billion yen.
Government orders tumbled 35.4 percent on month and 5.0 percent on year to 229.2 billion yen. Orders from overseas slipped 1.1 percent on month and spiked 11.3 percent on year to 870.9 billion yen. Orders from agencies jumped 18.9 percent on month and 8.3 percent on year to 128.4 billion yen.
For the first quarter of 2017, core machine orders are forecast to have gained 1.5 percent on quarter and 1.7 percent on year.
Also on Wednesday, the Bank of Japan said:
• Producer prices were up 0.2 percent on month in March – shy of expectations for a gain of 0.3 percent, which would have been unchanged from February following an upward revision from 0.2 percent.
On a yearly basis, prices advanced 1.4 percent, matching forecasts and up from the upwardly revised 1.1 percent increase in the previous month (originally 1.0 percent).
Export prices were up 0.3 percent on month and 3.7 percent on year, the bank said, while import prices advanced 1.0 percent on month and 12.5 percent on year.
• Overall bank lending was up 3.0 percent on year in March, coming in at 513.060 trillion yen. That matched forecasts and was up from 2.8 percent in February.
Excluding trusts, bank lending also advanced an annual 3.0 percent to 446.383 trillion yen – also in line with expectations and up from 2.8 percent in the previous month.
Lending from trusts was up 2.6 percent on year to 66.676 trillion yen. Lending from foreign banks jumped 13.7 percent to 2.221 trillion yen.
by RTT Staff Writer
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