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Japan's core machinery orders rebound beyond estimates in November 2019

Japan's core machine orders rebounded beyond expectations in November 2019 after declining for four consecutive months, data from the Cabinet Office showed.

Private-sector machinery orders, excluding volatile ones, climbed 18.0% month over month, following a 6.0% decline in October 2019. The consensus estimate of economists polled by Econoday was a 2.5% increase.

Total private-sector orders, including volatile orders, such as those from ships and electric power companies, rose 11.9% month over month in November 2019, accelerating from the 1.8% growth recorded in October 2019.

On an annual basis, core machinery orders rose 5.3% in November 2019, after falling 6.1% in the previous month.

Year over year, total private-sector orders increased 12.7% in November 2019, following a 5.6% slump in the previous month.