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Japan Feb Machine Orders -8.5% M/M; 2nd Monthly Drop

JAPAN DATA
MNI (Singapore)
  • Japan's core machinery orders, excluding those for power generation equipment and ships, dropped 8.5% m/m in February, faster than last month's 4.5% m/m fall.
  • Orders from non-manufacturing sectors fell 10.9% m/m while orders from manufacturing sectors dropped 5.5% m/m.
  • The outlook for the January-March period is for a fall of 6.0%, which would be a major slump after 12.9% growth over the previous quarter.
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