Tokyo, Sept. 16 (Jiji Press)–Japan’s seasonally adjusted core machinery orders in July fell 3.7 pct from the previous month, following a 9.7 pct increase in June, the Cabinet Office said Wednesday. Machinery orders are showing signs of picking up, the government agency said, keeping its basic assessment unchanged, partly because the decline mainly stemmed from the previous month’s growth, which was led by a large-scale order. The private-sector orders excluding those for ships and power equipment, closely watched as a leading indicator of corporate capital spending, totaled 1,016.9 billion yen. Machinery orders from manufacturers declined 1.0 pct to 518.6 billion yen. Orders from the nonferrous metal industry, which placed a large nuclear power-related order in the previous month, plunged 82.2 pct. Meanwhile, orders from electrical machinery makers jumped 46.1 pct, reflecting strong demand for artificial intelligence and semiconductors. Core orders from nonmanufacturers fell 2.6 pct to 525.9 billion yen. While orders from the telecommunications industry slumped 23.2 pct, partly due to a decline in orders for high-voltage power receiving and transforming equipment, those from the finance and insurance industry slipped 6.8 pct, reflecting a decline in investment for digitalization, which had increased in the previous month. Total machinery orders, including those from the public sector and overseas, decreased 5.5 pct to 4,195.7 billion yen. END [Copyright The Jiji Press, Ltd.]
