Economy

Japan Core Machinery Orders Up 2.7% in December

Yomiuri Shimbun file photo
The Cabinet Office is seen in the Kasumigaseki area of Chiyoda Ward, Tokyo.

Jiji Press

16:16 JST, February 19, 2024

TOKYO (Jiji Press) — Japan’s seasonally adjusted core machinery orders in December 2023 rose 2.7% from the previous month, up for the first time in two months, driven by brisk demand from manufacturers including chemical makers, the Cabinet Office said Monday.

Private-sector orders excluding those for ships and power equipment, closely watched as a leading indicator of corporate capital spending, totaled ¥838.8 billion.

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

Orders from manufacturers grew 10.1% to ¥415.5 billion.

Demand was robust also from information and communication electronics manufacturers, with orders for power generators and computers growing.