Japan: Core machinery orders weak in June – Nomura
|According to analysts at Nomura, Japanese machinery order statistics for June 2018 were weak on the whole as core machinery orders (private sector, excluding orders for ships and from electric power companies) fell 8.8% m-m in June, for a result well below the consensus forecast (Bloomberg survey median) for a 1.0% decline.
Key Quotes
“Orders from the manufacturing sector fell 15.9% and orders from the nonmanufacturing sector fell 7.0%, for a weak result in both cases.”
“Core machinery orders rose 2.2% y-y in the Apr-Jun period, with this an artifact of the sharp rise posted for standalone April.”
“Orders thus continued to rise but nevertheless showed a slowdown from the rise of 3.3% posted for Jan-Mar.”
“A breakdown of the Apr-Jun result by sector shows orders from the manufacturing sector rising 5.5% and orders from the nonmanufacturing sector falling 0.4%, with firm order trends quite pronounced in the manufacturing sphere.”
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.