Japan's core private sector machinery orders in August were down 5.7 percent on a seasonally adjusted basis from the previous month, government data showed on Thursday.
The orders, which exclude those for ships and from utilities because of their volatility, totaled 759.4 billion yen (about 6.33 billion U.S. dollars), marking the third straight monthly decline. In July, the orders posted a 3.6-percent month-on-month drop.
The government cut its basis assessment for the second consecutive month, saying core machinery orders are "at a standstill." Last month, the government said the orders are "at a standstill in their pickup trend." Orders from the manufacturing sector shed 3.2 percent to 347.9 billion yen in the reporting period, down for the third straight month, while those from the nonmanufacturing sector slid 6.1 percent to 422.1 billion yen, marking the second straight monthly fall.
Total orders, including those from the domestic public sector and abroad, fell 14.6 percent to 2,110.3 billion yen. Overseas demand for Japanese machinery, an indicator of future exports, plunged 26.1 percent to 872.3 billion yen.
Latest comments