Japan Core Machine Orders Soar 15.0% In January
Core machine orders in Japan surged 15.0 percent on month in January, the Cabinet Office said on Monday - coming in at 934.7 billion yen.
The headline figure far exceeded forecasts for an increase of 1.9 percent following the downwardly revised 1.0 percent gain in December (originally 4.2 percent).
On a yearly basis, core machine orders spiked 8.4 percent - also topped expectations for a decline of 3.8 percent following the 3.6 percent contraction in the previous month.
The total number of machinery orders, including those volatile ones for ships and from electric power companies, added 14.3 percent on month and 4.2 percent on year to 1.112 trillion yen.
Manufacturing orders climbed 41.2 percent on month and 25.4 percent on year to 462.5 billion yen in January, while non-manufacturing orders gained 1.0 percent on month but fell 4.6 percent on year to 481.8 billion yen.
Government orders skidded 23.3 percent on month and 38.0 percent on year to 189.9 billion yen. Orders from overseas skidded 29.4 percent on month and 31.2 percent on year to 683.4 billion yen. Orders from agencies advanced 11.4 percent on month and 19.6 percent on year to 122.0 billion yen.
For the first quarter of 2016, core machine orders are forecast to have gained 6.4 percent on quarter and 5.4 percent on year.
The material has been provided by InstaForex Company - www.instaforex.com
