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Japan May Machine Orders Surged 7.8% M/M

JAPAN DATA
MNI (Singapore)
  • Japan's core machinery orders, excluding those for power generation equipment and ships, rose for the third time in five months by 7.8% m/m in May, quickly up from the previous 0.6% gain.
  • Orders from non-manufacturing sectors increased 10.0% m/m, almost offset the 11.0% m/m decrease reported last month.
  • Orders from the manufacturing sector, rose 2.8% m/m, slowing down from the 10.9% m/m gain in April.
  • The outlook for the April-June period is for a rise of 2.5%, compared with the 5.3% decrease over the previous quarter.
  • Japan Cabinet Office upgrades its assessment on machinery orders saying they "showed signs of recovering".
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