Japan Core Machine Orders Sink 7.6% On Month In June
The total value of core machine orders in Japan was down 7.6 percent on month in June, the Cabinet Office said on Wednesday – coming in at 706.6 billion yen.
That missed expectations for a decline of 2.0 percent following the 1.7 percent increase in May.
On a yearly basis, core machine orders sank 22.5 percent – also shy of forecasts for a decline of 17.6 percent following the 16.3 percent slide in the previous month.
For the second quarter of 2020, orders were down 12.9 percent on quarter and 19.1 percent on year to 2,224.3 billion yen.
For the third quarter, orders are forecast to slip a.9 percent on quarter and 15.5 percent on year.