The value of core machine orders in Japan was up 5.1 percent on year in January, the Cabinet Office said on Thursday – coming in at 899.6 billion yen.
That was shy of expectations for an increase of 8.1 percent but was unchanged from December’s annual reading.
On a seasonally adjusted monthly basis, core machine orders were down 2.0 percent – beating forecasts for a decline of 2.2 percent after slipping 3.6 percent in December.
For the first quarter of 2022, core machine orders are forecast to fall 0.5 percent on quarter but rise 8.3 percent on year.
Manufacturing orders were down 4.8 percent on month and up 18.7 percent on year at 432.2 billion yen, while non-manufacturing orders slid 1.9 percent on month and 7.0 percent on year to 452.9 billion yen.
The total value of machinery orders received by 280 manufacturers operating in Japan fell 3.3 percent on month and climbed 14.7 percent on year in January.