Machinery orders, a leading indicator of capital spending over a three to six month period, continued to improve in February, thereby signalling a sustained recovery in the months ahead. In February, core machinery orders (private sector, excluding volatile orders) expanded a seasonally adjusted 4.8% over the previous month, which followed the 3.4% rise recorded in January. Moreover, the print contrasted market expectations, which had orders declining 0.8%. The acceleration was the result of a strong rebound in manufacturing orders, while non-manufacturing orders expanded at the same pace than in the previous month. However, machinery orders from overseas, which determine future exports, declined 18.3% in February, contrasting the robust 20.1% rise seen in January. Compared to the same month last year, core machinery orders grew 8.9% in February, which was above both the 5.7% rise seen in the previous month and the 3.0% increase expected by market analysts. Nevertheless, the trend deteriorated in February, with annual average growth falling from 7.8% in January to 7.6% in February. Meanwhile, the Cabinet Office upgraded its assessment on machinery orders for the first time since June 2011, envisaging
Machinery orders surprise on the upside in February
April 11, 2012
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Japan Economic News
October 12, 2016
Core machinery orders (a leading indicator of capital spending over a three- to six-month period) declined for the first time in three months in August.
October 4, 2016
Consumer sentiment rose from August’s 42.0 to 43.0 in September.
October 3, 2016
According to the Bank of Japan’s quarterly TANKAN business survey, sentiment among large manufacturers was stable at 6 in Q3.
September 30, 2016
In August, the core consumer price index was flat compared to the previous month, which was above the 0.2% decline in July.
September 30, 2016
In August, industrial production expanded 1.5% over the previous month in seasonally-adjusted terms, which contrasted July’s 0.4% decrease (previously reported: 0.0% month-on-month).