November Core Machinery Orders Fall 4.9%

Jiji Press

16:37 JST, January 18, 2024

TOKYO (Jiji Press) — Japan’s seasonally adjusted core machinery orders fell 4.9% in November from the previous month, the first decrease in three months, the Cabinet Office said Thursday.

Private-sector orders excluding those for ships and power equipment, closely watched as a leading indicator of corporate capital spending, totaled ¥816.7 billion.

The government agency kept its basic assessment unchanged, saying that machinery orders are at a standstill.

Orders from manufacturers decreased 7.8% to ¥377.4 billion after rising in October on large orders of boilers and other related equipment. Demand for transportation machinery such as cranes was weak.

Orders from nonmanufacturers were down 0.4% at ¥448.2 billion, chiefly due to sluggish computer demand among financial companies.

Overall machinery orders, including those from the public sector and abroad, rose 2.0% to ¥2,706.9 billion.