Core machine orders in Japan dropped 5.7 percent on month in August, the Cabinet Office said on Thursday – worth 759.4 billion yen.
The headline figure was well shy of forecasts for an increase or 3.0 percent following the 3.6 percent decline in July.
On a yearly basis, core machine orders dropped 3.5 percent – also below expectations for an increase of 3.5 percent following the 2.8 percent increase in the previous month.
The total number of machinery orders, including those volatile ones for ships and from electric power companies, tumbled 14.6 percent on month and 4.9 percent on year to 2.110 trillion yen.
Manufacturing orders dropped 3.2 percent on month but gained 4.5 percent on year to 347.9 billion yen in August, while non-manufacturing orders slipped 6.1 percent on month and 9.5 percent on year to 422.1 billion yen.
Government orders slipped 1.8 percent on month and 8.9 percent on year to 200.9 billion yen. Orders from overseas dropped 26.1 percent on month and 13.5 percent on year to 872.3 billion yen. Orders from agencies gained 18.2 percent on month and 11.8 percent on year to 114.2 billion yen.
For the third quarter of 2015, core machine orders are forecast to have gained 0.3 percent on quarter and 6.8 percent on year.
The material has been provided by InstaForex Company – www.instaforex.com