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Japan June Core Machine Orders Spike 13.9%

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The total value of core machine orders in Japan jumped a seasonally adjusted 13.9 percent on month in June, the Cabinet Office said on Wednesday - standing at 960.3 billion yen.

That blew away forecasts for a decline of 1.0 percent following the 7.8 decline in May.

On a yearly basis, core machine orders spiked 12.5 percent - again crushing expectations for a drop of 1.1 percent following the 3.7 percent decline in the previous month.

Manufacturing orders fell 1.7 percent on month and 7.1 percent on year to 364.4 billion yen, while non-manufacturing orders skyrocketed 30.5 percent on month and 30.0 percent on year to 614.7 billion yen.

Government orders plummeted 30.0 percent on month but gained 2.4 percent on year to 246.6 billion yen. Orders from overseas rose 6.7 percent on month and fell 13.0 percent on year to 855.5 billion yen. Orders through agencies dropped 13.1 percent on month and 2.2 percent on year to 114.3 billion yen.

For the second quarter of 2019, core machine orders advanced 7.5 percent on quarter and 4.1 percent on year.

For the third quarter of 2019, core machine orders are forecast to fallen 6.1 percent on quarter and 3.0 percent on year.

The total value of machinery orders, including volatile ones for ships and those from electric power companies, gained 6.3 percent on month and fell 0.4 percent on year to 2,352.2 billion yen.

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