Japan Core Machinery Orders Rise 3.4% In November

(RTTNews) - The value of core machinery orders in Japan was up a seasonally adjusted 3.4 percent on month in November, the Cabinet Office said on Monday - coming in at 899.6 billion yen.

That exceeded expectations for a decline of 0.7 percent following the 2.1 percent increase in October.

On a yearly basis, orders jumped 10.3 percent - again topping forecasts for 5.6 percent, which would have been unchanged from the October reading.

Government orders plummeted 29.5 percent on month but surged 57.3 percent on year to 573.0 billion yen. Orders from overseas fell 5.3 percent on month but rose 1.6 percent on year at 1,274.2 billion yen. Orders through agencies climbed 6.7 percent on month and 8.7 percent on year to 128.4 billion yen.

The total value of machinery orders received by 280 manufacturers operating in Japan decreased by 14.4 percent on month and gained 10.7 percent on year in November.