Japan: Core machinery orders rebound in June
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—increased 2.7% month-on-month in seasonally adjusted terms in June (May: -7.6% mom).
On an annual basis, machinery orders plummeted 5.8% in June (May: -8.7% yoy). Meanwhile, the trend pointed down, with the annual average variation of machinery orders coming in at minus 0.2%, contrasting May’s plus 0.9%.
In the release, the statistical office also forecast that core machinery orders would fall 2.6% quarter on quarter in seasonally adjusted terms in the third quarter.