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Japan Investment August 2022

Japan: Core machinery orders contract at sharpest pace in six months in August

Core machinery orders—which cover the private sector, exclude volatile orders and are a leading indicator for capital spending over the coming three-to-six-month period—nosedived 5.8% in month-on-month seasonally-adjusted terms in August, which contrasted July’s 5.3% increase. August’s result marked the worst reading since February.

On an annual basis, machinery orders grew 9.7% in August, which was significantly below July’s 12.8% expansion. Meanwhile, annual average machinery orders growth fell to 8.7% in August (July: +9.1%). This signals a worsening trend in the sector.

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