Japan's machinery and equipment orders rose 5.5% in September

by:Gewinn     2022-05-14
Statistics released by the Cabinet Office on the 10th show that machinery orders, which are regarded as a leading indicator of private equipment investment, rebounded in September after falling for three consecutive months. The report also predicts that orders for October-December will continue to grow. Statistics show that after seasonal adjustment, orders for private machinery and equipment excluding the shipping and power industries increased by 5.5% in September compared with the previous month, reaching a total of 940.7 billion yen (about 99 yen to 1 US dollar); the report also expects , the fourth quarter total orders will increase by 1.2% over the previous quarter, reaching 2.9103 trillion yen. Among orders in September, manufacturing orders rose 9.7%, while non-manufacturing orders fell 1.3%, the report said. Out of all 15 industries in the manufacturing industry, orders increased in 9 industries, especially the petroleum and coal products industry and the chemical industry, with orders increasing by 97.9% and 73.8% respectively compared with the previous month. At the same time, statistics show that orders for non-manufacturing industries, including the shipping and power industries, fell by 4.5% as a whole, and orders in 5 of the 8 industries fell, among which electricity fell by 35.5% and construction fell by 35.5%. 15.0%. The above statistics come from 280 machinery and equipment manufacturers in Japan. Manufacturers usually start production about 6 months after receiving an order. Therefore, data on machinery and equipment orders in Japan are usually used as a leading indicator of private equipment investment and an important reference for the central bank to formulate interest rate policies.
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