Japan’s machinery orders fall 6% in June – Cabinet

Japan’s machinery orders took a downturn in June, falling by 6 per cent compared to the previous month on a seasonally adjusted basis.

However, the April-June quarter posted a 7.4 per cent increase in overall machinery orders compared to the preceding quarter.

A closer look at private-sector machinery orders, excluding volatile sectors like shipbuilding and electric power, reveals a more positive trend.

These orders rose by 2.1 per cent in June on a seasonally adjusted basis, although the April-June quarter showed a slight decrease of 0.1 per cent.

Looking ahead, forecasts for the July-September quarter indicate a continued decline in total machinery orders, with a projected drop of 3.8 per cent.

On the other hand, private-sector orders are expected to rise by 0.2 per cent during the same period. These projections are based on data from 280 manufacturers.

Attribution: Japan’s Cabinet Office report

Subediting: Y.Yasser