Japan Investment July 2022


Japan: Core machinery orders growth gains momentum in July

September 14, 2022

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—expanded 5.3% in month-on-month seasonally-adjusted terms in July, which was above June's 0.9% increase.

On an annual basis, machinery orders grew 12.8% in July, which was significantly better than June’s 6.5% expansion. Moreover, the trend improved, with the annual average growth of machinery orders coming in at 9.1% in July, up from June's 9.0% reading.

FocusEconomics Consensus Forecast panelists expect gross fixed investment to decrease 0.8% in 2022, which is unchanged over last month’s projection, and grow 2.8% in 2023.


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Japan Investment July 2022

Note: Month-on-month changes of seasonally adjusted core machinery orders and year-on-year growth rate in %.
Source: Ministry of Economy, Trade and Industry (METI).

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