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Japan Core Machine Orders Dip 0.4% In February

Core machine orders in Japan slipped 0.4 percent on month in February, the Cabinet Office said on Monday - worth 835.6 billion yen.

The headline figure beat forecasts for a decline of 2.2 percent following the 1.7 percent contraction in January.

On a yearly basis, core machine orders jumped 5.9 percent - also topping expectations for an increase of 4.3 percent following the 1.9 percent gain in the previous month.

The total number of machinery orders, including those volatile ones for ships and from electric power companies, dipped 1.4 percent on month but climbed 10.8 percent on year.

Manufacturing orders added 0.9 percent on month and 13.8 percent on year to 355.2 billion yen in February, while non-manufacturing orders lost 3.6 percent on month but gained 0.5 percent on year to 476.9 billion yen.

Government orders tumbled 21.9 percent on month but gained 3.2 percent on year to 270.6 billion yen. Orders from overseas climbed 8.0 percent on month and 16.0 percent on year to 1,070.3 billion yen. Orders from agencies jumped 6.1 percent on month and 5.7 percent on year to 105.4 billion yen.

For the first quarter of 2015, core machine orders are forecast to have risen 1.5 percent on quarter but lost 0.9 percent on year to 2,455.2 billion yen.

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