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--Japan Aug Core Machine Orders +6.8% M/M; MNI Median -4.0%
--Japan Aug Core Machine Orders Post 2nd Straight M/M Rise
--Japan Govt Ups View: Orders Show Sign of Picking up
TOKYO (MNI) - Japan's core machinery orders, which exclude volatile orders
for power generation equipment and ships, rose 6.8% on month in August, data
released by the Cabinet Office Wednesday showed. It was the second straight
month-on-month rise following an 11.0% gain in July, indicating demand for
capital investment hasn't been affected by uncertainties caused by the
U.S.-China trade dispute.
The key points from the latest machinery orders data:
* The core order increase was bigger than the MNI survey median economist
forecast for a 4.0% fall (forecast range: from -5.4% to +3.0%). July-September
core orders are expected to post the first drop in five quarters, down 0.3%
after +2.2% for the April-June quarter.
* The three-month moving average of core orders rose 2.8% in August from
the previous three-month period, marking the first rise in three months
following -0.9% in July and -1.1% in June.
* The Cabinet Office upgraded its assessment from the previous month,
saying, "Orders shows a sign of picking up." Previously, it said, "The pick-up
in machinery orders is stalling."
* Orders from the manufacturing sector rose 6.6% on month in August, the
second straight rise after +11.8% in July, while orders from the
non-manufacturing sector excluding those for power generation and ships also
rose 6.0% on month, the second straight rise after +10.9% in July.
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