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Japan's core machinery orders down 8.8% in June

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Japan's core machinery orders down 8.8% in June

Japan's core machinery orders declined 8.8% month over month in June on a seasonally adjusted basis, after falling 3.7% in May, data from the Cabinet Office showed.

Compared with a year earlier, core orders, which exclude orders for ships and those from electric power companies, gained 0.3% in June.

The total value of machinery orders received by 280 manufacturers operating in Japan fell 14.4% in June from the prior month on a seasonally adjusted basis. In the April-June period, it rose 2.6% compared with the prior quarter.

The total amount of machinery orders for the July-September period was projected to rise 2.8% and private-sector orders, excluding volatile ones, were projected to decline by 0.3% from the previous quarter respectively.