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Yomiuri Shimbun file photo The Cabinet Office is seen in the Kasumigaseki area of Chiyoda Ward, Tokyo.
Jiji Press
10:30 JST, April 13, 2023
TOKYO (Jiji Press) — Japan’s seasonally adjusted core machinery orders in February fell 4.5% from the previous month, down for the first time in three months, the Cabinet Office said Wednesday.
Private-sector orders excluding those for ships and power equipment, closely watched as a leading indicator of corporate capital spending, stood at ¥888.0 billion.
The February decline, which followed a 9.5% rise in January, was milder than the median estimate of a 7.8% decrease in a Jiji Press survey of 17 economic research institutes, whose estimates ranged from a fall of 2.0% to a drop of 13.0%.
The Cabinet Office maintained its basic view that machinery orders appear to be at a standstill.
In February, machinery orders from manufacturers grew 10.2% to ¥433.3 billion, reflecting a rise in demand for cranes and other transporting machines from general-purpose and production machinery makers, as well as a large order for nuclear power generation equipment from the nonferrous metal industry.
Orders from nonmanufacturers plunged 14.7% to ¥460.6 billion, following the previous month’s brisk orders for construction machines from construction companies and for train cars and other equipment from the transport and postal services sector.
