Japón Machinery Orders

Japan's core machinery orders, which exclude those for ships and electric power companies, rose by 2.1% month-over-month to JPY 876.1 billion in June 2024, exceeding market estimates of 1.1% and shifting from a 3.2% fall in May. It was the first rise since March, largely supported by an upturn in orders for the non-manufacturing sector (2.4% vs -7.5% in June) to JPY 450.4 billion. Meanwhile, orders for the manufacturing sector fell (-0.3% vs 1.0%) to JPY 422.4 billion, dragged by non-ferrous metals (-59.9%), pulp, paper (-54.0%), foods and beverages (-51.5%), electrical machinery (-44.7%), textile (-22.9%), and communication (-16.8%), and ceramic, stone, and clay (-10.6%). On an yearly basis, private-sector machinery orders unexpectedly shrank 1.7%, against consensus of a 1.8% increase and a reversal from a 10.8% jump in May.