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Japanese machinery orders rise unexpectedly in June

Japan's private-sector machinery orders, excluding volatile ones, unexpectedly climbed 13.9% on a monthly basis in June to ¥960.3 billion, after dropping 7.8% in May, data from the country's Cabinet Office showed.

The consensus estimate of economists polled by Econoday was for a monthly decline of 1.0%.

Including volatile orders, such as those from ships and electric power companies, machinery orders climbed 15.6% in June to ¥1.160 trillion, following a drop of 8.0% in the previous month.

On an annual basis, private-sector machinery orders, excluding volatile ones, climbed 12.5% in June, following a 3.7% drop in May.

As of Aug. 13, 2019, US$1 was equivalent to ¥106.41.