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Japan's core machinery orders down 4.9 pct in November

TOKYO
2024-01-18 14:22

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TOKYO, Jan. 18 (Xinhua) -- Japan's core machinery orders declined 4.9 percent in November from the previous month, the first drop in three months, government data showed on Thursday.

Private-sector orders excluding those for ships and power equipment, closely watched as a leading indicator of corporate capital spending, stood at 816.7 billion yen (5.5 billion U.S. dollars), according to data released by the Cabinet Office.

Of the core orders, those from manufacturers dropped 7.8 percent to 377.4 billion yen, partly due to weak demand for computers in the information and communications sector, the data showed.

Meanwhile, those from non-manufacturers dipped 0.4 percent to 448.2 billion yen, led by sluggish orders in the electricity supply and real estate sectors.

The government agency maintained its basic assessment that machinery orders are at a standstill. (One U.S. dollar equals 147.98 Japanese yen)
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