JAPAN JULY CORE MACHINE ORDERS CLIMB 6.3% ON MONTH

The total value of core machine orders in Japan gained a seasonally adjusted 6.3 percent on month in July, the Cabinet Office said on Thursday - coming in at 751.3 billion yen.

That beat expectations for an increase of 1.9 percent following the 7.6 percent decline in June. On a yearly basis, core machine orders dropped 16.2 percent - also beating forecasts for a fall of 18.3 percent after tumbling 22.5 percent in the previous month.

Government orders plummeted 30.4 percent on month and 18.5 percent on year in July, while orders from overseas gained 13.8 percent on month and sank 25.3 percent on year.

Orders from agencies rose 2.3 percent on month and dropped 15.0 percent on year.

For the third quarter of 2020, core machine orders are forecast to have fallen 1.9 percent on quarter and 15.5 percent on year.

The total value of machinery orders received by 280 manufacturers operating in Japan - including volatile ones for ships and those from electric power companies - increased by 7.0 percent in July from the previous month and fell 19.4 percent on year.

News are provided by InstaForex