• Email Us: [email protected]
  • Contact Us: +1 718 874 1545
  • Skip to main content
  • Skip to primary sidebar

Medical Market Report

  • Home
  • All Reports
  • About Us
  • Contact Us

Japan’s machinery orders rebound in sign of capex recovery

September 15, 2021 by David Barret Leave a Comment

September 15, 2021

By Kantaro Komiya and Tetsushi Kajimoto

TOKYO (Reuters) – Japan’s core machinery orders rose in July after a dip the previous month, a sign corporate spending is perking up despite the wider hit to the economy from the pandemic.

However, the weaker-than-expected rebound may add to concerns about Japan’s already tepid recovery, which has largely relied on manufacturers and other export-oriented businesses as curbs dampen domestic consumption.

Core machinery orders, a highly volatile data series regarded as a leading indicator of capital spending in the next six to nine months, rose 0.9% in July from the previous month, weaker than 3.1% gain seen by economists in a Reuters poll.

It followed a 1.5% dip in the prior month.

The Japanese economy is at risk of slipping back into contraction in the current quarter as the COVID-19 pandemic hits private consumption and manufacturing.

Adding to worries about the outlook, manufacturers’ mood fell to a five-month low in September, the Reuters Tankan, which closely tracks the central bank’s key tankan survey, showed amid the pandemic and a global chip shortage.

The batch of data comes as the ruling party’s leadership race heats up. The winner of the Liberal Democratic Party’s Sept. 29 leadership contest is expected to become prime minister and will need to lay out a growth strategy to get cautious Japanese firms to spend their massive piles of cash https://ift.tt/3lmFucM.

By sector, orders from manufacturers rose 6.7% month-on-month in July marking a fourth straight month of increase, while service-sector orders tumbled 9.5%. Industries such as electric machinery led manufacturers, but construction, wholesale and retail industries dragged on service-sector orders.

External orders, which are not counted as core orders, rose 24.1%, rebounding from the previous month’s 10% drop.

Compared with a year earlier, core orders, which exclude those for ships and electricity utilities, grew 11.1% in July, below a 15.7% jump forecast by economists, the data showed.

The Cabinet Office maintained its assessment on machinery orders, describing them as showing signs of “picking up.”

(Reporting by Kantaro Komiya and Tetsushi Kajimoto; Editing by Sam Holmes)

Source Link Japan’s machinery orders rebound in sign of capex recovery

David Barret
David Barret

Related posts:

  1. European shares turn positive as easing U.S. inflation data offsets luxury drag
  2. Tennis – Raducanu hits Met Gala red carpet in New York victory lap
  3. Apple updates iPads for work-from-home as new 5G iPhones expected
  4. Mexico may consider southern states for semiconductor production

Filed Under: News

Reader Interactions

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Primary Sidebar

  • DNA From Greenland Sled Dogs – Maybe The World’s Oldest Breed – Reveals 1,000 Years Of Arctic History
  • Why Doesn’t Moonrise Shift By The Same Amount Each Night?
  • Moa De-Extinction, Fashionable Chimps, And Robot Surgery – No Human Required
  • “Human”: Powerful New Images Mark The Most Scientifically Accurate “Hyper-Real 3D Models Of Human Species Ever”
  • Did We Accidentally Leave Life On The Moon In 2019 – And Could We Revive It?
  • 1.8 Million Years Ago, Two Extinct Humans Had One Of The Gnarliest Deaths In History
  • “Powerful Image” Of One Of The World’s Rarest Tigers Exposes The Real Danger In Taman Negara
  • Evolution, Domestication, And A Lot Of Very Good Boys: How Wolves Became Dogs
  • Why Do Orcas Have White Spots Near Their Eyes?
  • Tomb Of First King Of Ancient Maya City Discovered In Belize
  • The Real Reason The Tip Of Your Tape Measure Wiggles Like That
  • The “Haunting” Last Message From NASA’s Opportunity Rover, Sent From Inside A Planet-Wide Storm
  • Adorable Video Proves Not All Gorillas Hate The Rain. It Might Even Win One A Mate
  • 5,000-Year-Old Rock Art May Show One Of Ancient Egypt’s First Rulers
  • Alzheimer’s-Linked Protein Levels “20 Times Higher” In Newborn Babies – What Does This Mean?
  • Americans Were Asked If They Thought Civil War Was Coming. The Results Were Unexpected
  • Voyager 1 & 2 Could Be Detected From Almost A Light-Year Away With Our Current Technology
  • Dams Have Nudged Earth’s Poles By Over 1 Meter In The Past 200 Years
  • This Sugar Could Be A Cure For Male Pattern Baldness – And It’s Been In Our Bodies All Along
  • “Cosmic Immigrants”: Daytime Star Seen In 1604 May Be An “Alien Type Ia Supernova”
  • Business
  • Health
  • News
  • Science
  • Technology
  • +1 718 874 1545
  • +91 78878 22626
  • [email protected]
Office Address
Prudour Pvt. Ltd. 420 Lexington Avenue Suite 300 New York City, NY 10170.

Powered by Prudour Network

Copyrights © 2025 · Medical Market Report. All Rights Reserved.

Go to mobile version