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Japan Machine Orders +2.6% In October

Japan Machine Orders +2.6% In October

Core machine orders in Japan climbed a seasonally adjusted 2.6 percent on month in October to 704.4 billion yen, the Cabinet Office said on Wednesday - rising for the first time in three months.

The headline figure was shy of forecasts for an increase of 3.0 percent following the 4.3 percent contraction in September and the 3.3 percent decline in August.

On a yearly basis, core machine orders collected 1.2 percent versus forecasts for a contraction of 5.0 percent after shedding 7.8 percent in the previous month and 6.1 percent in August.

The total number of machinery orders, including those volatile ones for ships and from electric power companies, saw a decline of 1.6 percent on month and 6.9 percent on year in October to 1,787.3 billion yen.

Manufacturing orders dipped 3.6 percent on month and 13.3 percent on year to 276.4 billion yen in October, while non-manufacturing orders gained 2.8 percent on month and 13.3 percent on year to 448.0 billion yen.

Government orders plunged 18.7 percent on month but added 3.8 percent on year to 214.6 billion yen. Orders from overseas gained 9.4 percent on month but fell 12.8 percent on year to 685.4 billion yen. Orders from agencies shed 2.5 percent on month and 3.6 percent on year to 82.6 billion yen.

For the fourth quarter of 2012, core machine orders are forecast to 5.0 percent on quarter and 7.6 percent on year.

Also on Wednesday:

• An index measuring the prices of domestic corporate goods in Japan was flat in November, the Bank of Japan said, standing at 100.1. That was in line with expectations following the 0.3 percent contraction in October.

On a yearly basis, corporate prices were down 0.9 percent - also matching forecasts after falling 1.0 percent in the previous month. Export prices were down 0.2 percent on month and 1.1 percent on year, while import prices dipped 0.5 percent on month and 1.6 percent on year.

• An index measuring tertiary industrial activity in Japan was down a seasonally adjusted 0.1 percent on month in October, the Ministry of Economy, Trade and Industry said, standing at 99.2. That beat forecasts for a contraction of 0.4 percent following the 0.3 percent increase in September.

Industries that were down in October included wholesale and retail trade, personal services, utilities, accommodations, medical care and real estate. Industries that saw an increase included miscellaneous services, postal activities, scientific research and learning support.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

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