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MNI BRIEF: Japan's Sept Machine Orders Fall; Outlook Lowered

(MNI) Tokyo
(MNI) Tokyo

Bank of Japan officials will be vigilant about the outlook for capital investment following weak machinery orders for September, which aren’t consistent with strong capex plans in the BOJ's September Tankan survey.

Japan's core machinery orders, which exclude volatile orders from power generation equipment and ships, fell 4.6% m/m in September, data released by the Cabinet Office Wednesday showed. It was a second straight drop following a 5.8% decline in August. The data showed orders for the third quarter are expected to rise 3.6% q/q following a 1.6% decline in the second quarter. The three-month moving average of core orders fell 1.8% in August after being unchanged in July.

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Bank of Japan officials will be vigilant about the outlook for capital investment following weak machinery orders for September, which aren’t consistent with strong capex plans in the BOJ's September Tankan survey.

Japan's core machinery orders, which exclude volatile orders from power generation equipment and ships, fell 4.6% m/m in September, data released by the Cabinet Office Wednesday showed. It was a second straight drop following a 5.8% decline in August. The data showed orders for the third quarter are expected to rise 3.6% q/q following a 1.6% decline in the second quarter. The three-month moving average of core orders fell 1.8% in August after being unchanged in July.

Keep reading...Show less