Orders for machinery in Japan fell in March, but less than expected

In March, the volume of orders for machinery in Japan fell a seasonally adjusted -0.4 per cent compared with the previous month, reported the Cabinet of Ministers.

This exceeded expectations falling by -7,1% after rising 2.3% in February.

On an annual basis, the number of orders decreased by -0,7%, which again exceeded forecasts for a decline of -9,5% after falling by -2.3 per cent in the previous month.

The total value of sales received by 280 manufacturers operating in Japan increased in March to a seasonally adjusted 3.0 percent on month and 0.9 percent year-on-year.

Production orders decreased by -8,2% in the quarter and -3.2% yoy, while non-manufacturing orders grew by 5.3% QoQ and 0.9% yoy.

Government orders increased by 17.1% in the month and by 66.5% yoy, while orders from abroad fell by -1.3% in monthly basis and -14,4% yoy. Bookings through agencies dropped by -3.3% in the month and -5,8% per year.

In the first quarter of 2020 the number of orders for machinery fell by -0.7% in the quarter and a 1.0% per annum. The total number of orders for machines increased by 3.9% in the first quarter and fell by 0.7% yoy.

Factory orders grew by 1.8% QoQ and decreased by -3,4% annually in the first quarter, while non-manufacturing orders fell -5,1% QoQ and rose by 0.6% yoy.

Public orders increased by 25.5% in the quarter and 45.0% in annual terms, while orders from abroad grew by 8.7% QoQ and decreased by -8,7% year-on-year. Orders through agencies increased by 3.6% in the quarter and fell by -4,1% yoy.

It is projected that the volume of orders for machinery will be reduced to a negative 0.7% in the second quarter and -10,4% yoy.

Information-analytical Department TeleTrade

Source: teletrade.ru

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