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Japan's machinery orders rise 2.7 pct in December

TOKYO
2024-02-19 13:21

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TOKYO, Feb. 19 (Xinhua) -- Japan's core machinery orders went up 2.7 percent in December from the previous month, government data showed Monday.

Private-sector orders excluding those for ships and from electric utilities due to their volatility, closely watched as a leading indicator of corporate capital spending, totaled 838.8 billion yen (5.6 billion U.S. dollars), cabinet office data showed.

The orders increased for the first time in two months on strong demand in the manufacturing sector, following a 4.9 percent decline in November.

By sector, orders from manufacturers gained 10.1 percent to 415.5 billion yen, lifted by expansion in the chemical and information and communications sectors, while orders from the non-manufacturing sector fell 2.2 percent to 438.5 billion yen, weighed down by a decline in the transportation and postal services sector.

The government agency maintained its basic assessment that machinery orders had "stalled," keeping the view for the 14th consecutive month.

Overall machinery orders, including those from the public sector as well as ships and electric utilities, climbed 10.3 percent to 3.0 trillion yen. (1 Japanese yen equals 0.0069 U.S. dollars)
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