Core machine orders in Japan skidded 3.6 percent on month in July, the Cabinet Office said on Thursday – worth 805.6 billion yen.
The headline figure was well shy of forecasts for an increase of 3.3 percent following the 7.9 percent contraction in June.
On a yearly basis, core machine orders added 2.8 percent – also missing expectations for a jump of 10.3 percent after surging 16.6 percent in the previous month.
The total number of machinery orders, including those volatile ones for ships and from electric power companies, added 2.2 percent on month and 11.9 percent on year to 2.470 trillion yen.
Manufacturing orders dropped 5.3 percent on month but gained 3.8 percent on year to 359.4 billion yen in July, while non-manufacturing orders slipped 6.0 percent on month and gained 1.8 percent on year to 449.4 billion yen.
Government orders plummeted 27.0 percent on month and 28.0 percent on year to 204.6 billion yen. Orders from overseas gained 10.2 percent on month and 39.8 percent on year to 1.1719 trillion yen. Orders from agencies dropped 10.2 percent on month and 7.5 percent on year to 96.6 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.
Also on Thursday, the Bank of Japan said that domestic corporate service prices in Japan were down 3.6 percent on year in August.
That missed forecasts for a decline of 3.3 percent following the 3.0 percent contraction in July.
On a monthly basis, prices eased 0.6 percent – also missing estimates for a fall of 0.4 percent after dipping 0.2 percent in July.
Export prices were down 0.9 percent on month and 6.1 percent on year, the bank said, while import prices tumbled 1.6 percent on month and 19.5 percent on year.
The material has been provided by InstaForex Company – www.instaforex.com