FX.co ★ Japan Core Machine Orders Slip 1.7% In January

The Japanese Cabinet Office reported a seasonally adjusted 1.7% monthly decrease in core machinery orders in January, equating to 823.8 billion yen. This figure fell short of predictions, which estimated a 1.0% decrease, adjusting the December increase from an initial 2.7% down to 1.9%.

Annually, there was a 10.9% slump in core machinery orders. However, it surpassed expectations, which predicted an 11.2% fall, succeeding the 0.7% drop in the previous month.

In January, government orders significantly rose by 24.4% monthly and 74.6% yearly. In contrast, orders from overseas experienced a 4.4% monthly decrease, although there was a 9.4% annual increase. Agency orders saw a moderate rise of 0.7%, seen both monthly and yearly.

Projections for the first quarter of 2024 suggest a 4.9% quarterly increase in core machinery orders, despite a predicted 0.1% annual decrease.